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Sonoco Products (SON) Receives a Hold from KeyBanc

KeyBanc analyst Adam Josephson reiterated a Hold rating on Sonoco Products (SONResearch Report) today. The company’s shares closed last Thursday at $62.06.

According to TipRanks.com, Josephson is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.2% and a 48.8% success rate. Josephson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, International Paper Co, and Berry Global Group.

The word on The Street in general, suggests a Hold analyst consensus rating for Sonoco Products with a $64.80 average price target, which is an 8.8% upside from current levels. In a report issued on July 6, BMO Capital also maintained a Hold rating on the stock with a $65.00 price target.

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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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