Sonoco Products Company (SON) : Traders are bullish on Sonoco Products Company (SON) as it has outperformed the S&P 500 by a wide margin of 0.43% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.86%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.83% in the last 1 week, and is up 0.82% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Sonoco Products Co. is up 12.79% in the last 3-month period. Year-to-Date the stock performance stands at 29.91%. The stock has recorded a 20-day Moving Average of 1.83% and the 50-Day Moving Average is 4.48%.
Sonoco Products Company (NYSE:SON): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $51.56 and $51.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $51.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $51.87, notching a gain of 0.15% for the day. The total traded volume was 279,201 . The stock had closed at $51.79 on the previous day.
Also, Equity analysts at the Brokerage firm Barclays maintains its rating on Sonoco Products Company (NYSE:SON). The rating major has initiated the coverage with underweight rating on the shares. The Analysts at Barclays raises the price target from $40 per share to $44 per share. The rating by the firm was issued on July 25, 2016.
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.