Sonoco Products (NYSE:SON) has been downgraded from Neutral to Underperform in a statement by BofA Merrill earlier today.
- Updated: October 3, 2016
Boasting a price of $52.83, Sonoco Products (NYSE:SON) traded -2.63% lower on the day. With the last close up 4.11% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Sonoco Products has recorded a 50-day average of $51.99 and a two hundred day average of $49.41. Volume of trade was down over the average, with 148,700 shares of SON changing hands under the typical 446,662
BofA Merrill has downgraded Sonoco Products (NYSE:SON) from Neutral to Underperform in a statement released on 10/3/2016.
On 5/12/2016, Goldman Sachs released a statement on Sonoco Products (NYSE:SON) bumped up the target price from $0.00 to $50.00 that suggested an upside of 0.07%.
With a total market value of $0, Sonoco Products has 52 week low of $36.56 and a 52 week high of $53.57 with a PE ratio of 24.38 .
In addition to BofA Merrill reporting its stock price target, a total of 9 brokerages have issued a research note on the company. The average stock price target is $45.78 with 1 brokerage rating the stock a strong buy, 1 brokerage rating the stock a buy, 8 brokerages rating the stock a hold, 2 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On Sonoco Products (NYSE:SON)
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products and a provider of packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment's products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management. Its Display and Packaging segment's products and services include point-of-purchase displays; fulfillment; supply chain management, and paperboard specialties. Its Paper and Industrial Converted Products segment provides the raw material for its fiber-based packaging. The Protective Solutions segment's products and services include custom-engineered and expanded foam protective packaging and components, and temperature-assured packaging.
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