Vertical Research Downgrades Sonoco Products Co to Sell

Brokerage firm Vertical Research Downgrades its rating on Sonoco Products Co(NYSE:SON). The shares have been rated Sell. Previously, the analysts had a Hold rating on the shares. The rating by Vertical Research was issued on Jul 22, 2016.

In a different note, On Jul 14, 2016, Jefferies said it Maintains its rating on Sonoco Products Co. In the research note, the firm Raises the price-target to $42.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 1, 2016, Goldman Sachs said it Assumes its rating on Sonoco Products Co. The shares have been rated ‘Neutral’ by the firm. Goldman Sachs said it Initiates Coverage on Sonoco Products Co, according to a research note issued on May 12, 2016. The shares have been rated ‘Neutral’ by the firm.

Sonoco Products Co (SON) shares turned negative on Thursdays trading session with the shares closing down -0.32 points or -0.62% at a volume of 5,18,600. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $51.35. The peak price level was also seen at $51.35 while the days lowest was $50.7. Finally the shares closed at $51.05. The 52-week high of the shares is $52 while the 52-week low is $36.56. According to the latest information available, the market cap of the company is $5,144 M.

Sonoco Products Co has also declared a cash dividend of $0.3700 on Jul 20, 2016. The shares will quote ex-dividend on Aug 10, 2016 and the record date has been fixed on Aug 12, 2016. The dividend payable date has been fixed on Sep 9, 2016.

Sonoco Products Co(SON) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.21B. Analysts had an estimated revenue of $1.26B. Earnings per share were $0.73. Analysts had estimated an EPS of $0.68.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Allan H Mcleland (VP Human Resources) sold 5,875 shares at $50.00 per share price.Also, On Jul 6, 2016, James A. Iii Harrell (VP Tubes,Cores USA,CND) sold 1,000 shares at $50.00 per share price.On Jul 1, 2016, Marcy J Thompson (VP,Marketing&Innovations) sold 549 shares at $49.00 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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Sonoco Products Co - Is it time to Sell?

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