KeyBanc Issues a Hold Rating on Sonoco Products

By Carrie Williams

In a report released today, Adam Josephson from KeyBanc reiterated a Hold rating on Sonoco Products (NYSE: SON). The company’s shares opened today at $52.31.

Josephson commented:

“We are increasing our 2017 EPS estimate on account of lower incentive compensation and a lower tax rate; as a reminder, SON essentially maintained its guidance for the year.”

According to, Josephson is a 4-star analyst with an average return of 19.6% and a 65.4% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.

Currently, the analyst consensus on Sonoco Products is Hold and the average price target is $48.67, representing a -7.0% downside.

In a report issued on April 7, BMO Capital also reiterated a Hold rating on the stock with a $54 price target.

Sonoco Products’ market cap is currently $5.04B and has a P/E ratio of 18.28. The company has a book value ratio of 3.3376.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is neutral on the stock. Last month, Howard Coker, the VP Global Rigid Paper&Closures of SON sold 9,691 shares for a total of $516,918.

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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. The Consumer Packaging segment includes the following products and services: round composite cans, shaped rigid paperboard containers, fiber caulk or adhesive tubes, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, jars, jugs, cups and trays; printed flexible packaging, rotogravure cylinder engraving, and global brand management. The Paper and Industrial Converted Products segment consists of the following products and services: recycled paperboard, chipboard, tubeboard, lightweight corestock, boxboard, linerboard, corrugating medium, specialty grades; paperboard tubes and cores, molded plugs, reels; collection, and processing and recycling of old corrugated containers, paper, plastics, metal, glass, and other recyclable materials. The Display Packaging segment offers the following products and services: point-of-purchase displays; custom packaging; and retail packaging, including printed backer cards, thermoformed blisters and heat sealing equipment; fulfillment; primary package filling; supply chain management; and paperboard specialties. The Protective Solutions segments comprises of the following products and services: custom-engineered, paperboard-based and expanded foam protective packaging and components; and temperature-assured packaging. The company was founded by James Lide Coker on May 10, 1899 and is headquartered at Hartsville, SC.