DA Davidson Downgrades Sonoco Products Co to Underperform

Brokerage firm DA Davidson Downgrades its rating on Sonoco Products Co(NYSE:SON). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by DA Davidson was issued on Apr 11, 2016.

In a different note, On Mar 18, 2016, Vertical Research said it Downgrades its rating on Sonoco Products Co. The shares have been rated ‘Hold’ by the firm. On Mar 18, 2016, Bank of America said it Downgrades its rating on Sonoco Products Co. The shares have been rated ‘Neutral’ by the firm. On Feb 22, 2016, Argus Research said it Maintains its rating on Sonoco Products Co. In the research note, the firm Lowers the price-target to $56.00 per share. The shares have been rated ‘Buy’ by the firm.

Sonoco Products Co (SON) made into the market gainers list on Fridays trading session with the shares advancing 1.03% or 0.49 points. Due to strong positive momentum, the stock ended at $48.28, which is also near the day’s high of $48.32. The stock began the session at $47.8 and the volume stood at 5,77,484 shares. The 52-week high of the shares is $49.08 and the 52 week low is $34.68. The company has a current market capitalization of $4,874 M and it has 10,09,61,258 shares in outstanding.

Sonoco Products Co(SON) last announced its earnings results on Feb 11, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $1.27B. Analysts had an estimated revenue of $1.29B. Earnings per share were $0.64. Analysts had estimated an EPS of $0.62.

Several Insider Transactions has been reported to the SEC. On Mar 15, 2016, Roger P Schrum (VP Invstr Rel & Corp Affairs) sold 1,283 shares at $45.53 per share price.Also, On Feb 25, 2016, Rodger D Fuller (VP GLOB Primary Materials Grp) sold 1,533 shares at $42.85 per share price.On Feb 25, 2016, Ritchie L Bond (VP, Treasurer, Sec.) sold 2,924 shares at $42.15 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company has 335 locations in 33 countries. The Company’s Consumer Packaging segment’s operations comprise 90 plants across the world. The Company’s Display and Packaging segment’s operations comprise 27 plants around the world including the United States Poland Mexico and Brazil. The Company’s Paper and Industrial Converted Products segment provides the primary raw material for the Company’s fiber-based packaging. The Protective Solutions segment’s products include custom-engineered paperboard-based and expanded foam protective packaging and components and temperature-assured packaging.

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