Sonoco Products Co (SON) is Initiated by Goldman to Neutral

Sonoco Products Co (SON) was Initiated by Goldman to “Neutral”. Goldman advised their investors in a research report released on May 12, 2016.

Many Wall Street Analysts have commented on Sonoco Products Co. DA Davidson Downgraded Sonoco Products Co on Apr 11, 2016 to ” Underperform”, Price Target of the shares are set at $42.Sonoco Products Co was Downgraded by BofA/Merrill to ” Neutral” on Mar 18, 2016.

On the company’s financial health, Sonoco Products Co reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.59. The company had revenue of $1226.27 million for the quarter, compared to analysts expectations of $1209.30 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Sonoco Products Co opened for trading at $47.07 and hit $47.43 on the upside on Tuesday, eventually ending the session at $47.43, with a gain of 0.91% or 0.43 points. The heightened volatility saw the trading volume jump to 4,06,441 shares. Company has a market cap of $4,779 M.

In a different news, on Apr 29, 2016, Vicki B Arthur (VP Global Protective Solutions) sold 4,000 shares at $48.00 per share price. According to the SEC, on Apr 26, 2016, Marcy J Thompson (VP,Marketing&Innovations) sold 431 shares at $47.48 per share price. On Apr 26, 2016, R. Howard Coker (VP Global Rigid Paper&Closures) sold 9,320 shares at $47.49 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.

Sonoco Products Co

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