KeyBanc Sticks to Its Hold Rating for Sonoco Products (SON)

KeyBanc analyst Adam Josephson maintained a Hold rating on Sonoco Products (SONResearch Report) today. The company’s shares closed today at $58.60.

According to TipRanks, Josephson is an analyst with an average return of -4.8% and a 48.04% success rate. Josephson covers the Basic Materials sector, focusing on stocks such as Clearwater Paper, WestRock, and AptarGroup.

In addition to KeyBanc, Sonoco Products also received a Hold from Deutsche Bank’s David Begleiter in a report issued on October 21. However, on October 30, BMO Capital downgraded Sonoco Products (NYSE: SON) to a Sell.

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Based on Sonoco Products’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.91 billion and a net profit of $131.67 million. In comparison, last year the company earned a revenue of $1.38 billion and had a GAAP net loss of $334.07 million

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

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