Robert W. Baird analyst Ghansham Panjabi reiterated a Hold rating on Sonoco Products (SON – Research Report) on June 22 and set a price target of $65.00. The company’s shares closed last Thursday at $55.02.
According to TipRanks.com, Panjabi is a 4-star analyst with an average return of 6.2% and a 54.9% success rate. Panjabi covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and H.B. Fuller Company.
Sonoco Products has an analyst consensus of Hold, with a price target consensus of $64.50.
Based on Sonoco Products’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.77 billion and net profit of $115 million. In comparison, last year the company earned revenue of $1.35 billion and had a net profit of $72.3 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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