At the time of writing, Sonoco Products Co. [SON] stock is trading at $57.77, up 0.24%. An important factor to consider is whether the stock is rising or falling in short-term value. The SON shares have gain 2.14% over the last week, with a monthly amount glided 1.17%, and seem to be holding up well over a long-time horizon.
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On 22, February 2024, Sonoco Hosts Investor Day 2024 and Announces Updated Long Term Targets. In a post published today on Yahoo Finance, Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), one of the largest sustainable global packaging companies, today hosts its 2024 Investor Day in New York City. During this event, Sonoco will provide updates and progress on its focused growth strategy and discuss next era goals to achieve long term financial targets.
From an analyst’s perspective:
Sonoco Products Co. [NYSE: SON] stock has seen the most recent analyst activity on August 03, 2023, when Argus downgraded its rating to a Hold. Previously, Seaport Research Partners upgraded its rating to Buy on March 20, 2023, and kept the price target unchanged to $65. On February 14, 2023, upgrade upgraded it’s rating to Buy but maintained its price target of $67 on the stock. BMO Capital Markets downgraded its rating to a Underperform and decreased its price target to $58 on October 31, 2022. BofA Securities upgraded its rating to a Buy but $76 remained the price target by the analyst firm on October 13, 2022. Citigroup started tracking with a Buy rating for this stock on July 01, 2022, and assigned it a price target of $66. In a note dated April 22, 2022, Seaport Research Partners downgraded an Neutral rating on this stock.
For the past year, the stock price of Sonoco Products Co. fluctuated between $49.98 and $63.74. Currently, Wall Street analysts expect the stock to reach $71.8 within the next 12 months. Sonoco Products Co. [NYSE: SON] shares were valued at $57.77 at the most recent close of the market. An investor can expect a potential return of 24.29% based on the average SON price forecast.
Analyzing the SON fundamentals
According to Sonoco Products Co. [NYSE:SON], the company’s sales were 6.77B for trailing twelve months, which represents an -2.58% plunge. Gross Profit Margin for this corporation currently stands at 0.21% with Operating Profit Margin at 0.1%, Pretax Profit Margin comes in at 0.09%, and Net Profit Margin reading is 0.07%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.2 and Total Capital is 0.11. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.27.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 57.50 points at the first support level, and at 57.23 for the second support level. However, for the 1st resistance point, the stock is sitting at 58.17, and for the 2nd resistance point, it is at 58.57.
Sonoco Products Co. [SON] reported earnings per share of $1.02 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.04/share, meaning a difference of -$0.02 and a surprise factor of -1.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.46 per share as compared to estimates of $1.23 per share, a difference of $0.23 representing a surprise of 18.70%.
Ratios To Look Out For
It is important to note that Sonoco Products Co. [NYSE:SON] has a current ratio of 1.76. On the other hand, the Quick Ratio is 1.10, and the Cash Ratio is 0.13. Considering the valuation of this stock, the price to sales ratio is 0.84, the price to book ratio is 2.33 and price to earnings (TTM) ratio is 12.02.
Transactions by insiders
Recent insider trading involved Wood Adam, VP Paper&Ind Converted Prod, that happened on Mar 06 ’24 when 537.0 shares were sold. Pres Global Flexible Packaging, Grissett Russell K completed a deal on Feb 28 ’24 to sell 2039.0 shares. Meanwhile, Pres., Diversified Business Tomaszewski Jeffrey S sold 10500.0 shares on Feb 23 ’24.
