Sonoco Products Co (SON) was Downgraded by DA Davidson to ” Underperform” and the brokerage firm has set the Price Target at $42. Earlier the firm had a rating of “Neutral ” on the company shares. DA Davidson advised their investors in a research report released on Apr 11, 2016.
Many Wall Street Analysts have commented on Sonoco Products Co. Sonoco Products Co was Downgraded by BofA/Merrill to ” Neutral” on Mar 18, 2016.
On the company’s financial health, Sonoco Products Co reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.62. The company had revenue of $1267.00 million for the quarter, compared to analysts expectations of $1284.26 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.
Sonoco Products Co closed down -0.77 points or -1.61% at $47.18 with 12,83,077 shares getting traded on Monday. Post opening the session at $47.37, the shares hit an intraday low of $46.92 and an intraday high of $47.76 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 15, 2016, Roger P Schrum (VP Invstr Rel & Corp Affairs) sold 1,283 shares at $45.53 per share price. According to the SEC, on Feb 25, 2016, Ritchie L Bond (VP, Treasurer, Sec.) sold 2,924 shares at $42.15 per share price. On Feb 25, 2016, Rodger D Fuller (VP GLOB Primary Materials Grp) sold 1,533 shares at $42.85 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 Companys Consumer Packaging segments operations comprise 90 plants across the world. The Companys Display and Packaging segments operations comprise 27 plants around the world including the United States Poland Mexico and Brazil. The Companys Paper and Industrial Converted Products segment provides the primary raw material for the Companys fiber-based packaging. The Protective Solutions segments products include custom-engineered paperboard-based and expanded foam protective packaging and components and temperature-assured packaging.