KeyBanc analyst Adam Josephson maintained a Hold rating on Sonoco Products (SON) today. The company’s shares opened today at $62.62.
Josephson noted:
“We think SON remains a solid defensive holding; only valuation keeps us on the sidelines.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 7.8% and a 63.8% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
Sonoco Products has an analyst consensus of Moderate Sell, with a price target consensus of $60.25.
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Based on Sonoco Products’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $73.66 million. In comparison, last year the company had a net profit of $89.41 million.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock.
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Sonoco Products Co. engages in the manufacture of industrial and consumer packaging products and provides packaging services. It operates through the following segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions.
