Is Buying Sonoco Products Company (SON) Here a Winning Strategy? The Stock Formed Bullish Inverse Head & Shoulders Chart Pattern

January 13, 2018 - By Ellis Scott

Investors sentiment decreased to 1.19 in Q3 2017. Its down 0.08, from 1.27 in 2017Q2. It dived, as 26 investors sold Sonoco Products Company shares while 98 reduced holdings. 36 funds opened positions while 112 raised stakes. 69.34 million shares or 1.59% less from 70.45 million shares in 2017Q2 were reported.
Brown Brothers Harriman & reported 0.08% of its portfolio in Sonoco Products Company (NYSE:SON). Baker Ellis Asset Mgmt Limited Liability Com has invested 0.59% of its portfolio in Sonoco Products Company (NYSE:SON). Manning And Napier Advsr Ltd Liability Corporation accumulated 0.02% or 42,172 shares. Argyle Management invested in 40,866 shares. Engineers Gate Manager L P has invested 0.28% in Sonoco Products Company (NYSE:SON). Bluemountain Cap Ltd Liability Corporation stated it has 0.03% in Sonoco Products Company (NYSE:SON). Pennsylvania-based Commonwealth Of Pennsylvania Pub School Empls Retrmt has invested 0.01% in Sonoco Products Company (NYSE:SON). Bahl And Gaynor Inc holds 19,371 shares. Swiss Financial Bank owns 166,500 shares. Geode Cap Management Llc owns 819,377 shares for 0.02% of their portfolio. Gemmer Asset Mngmt Limited Liability Co accumulated 187 shares. Com State Bank invested 0.05% in Sonoco Products Company (NYSE:SON). Prudential Public Limited Company holds 0% or 7,300 shares. Wells Fargo & Co Mn holds 442,779 shares or 0.01% of its portfolio. Quantbot Technologies Ltd Partnership reported 5,038 shares stake.

Since September 15, 2017, it had 0 buys, and 4 selling transactions for $366,758 activity. $3,658 worth of Sonoco Products Company (NYSE:SON) was sold by Florence John M on Friday, September 15. Another trade for 5,645 shares valued at $295,754 was made by Saunders Barry L on Thursday, October 26. 727 Sonoco Products Company (NYSE:SON) shares with value of $38,531 were sold by ARTHUR VICKI B.

The stock of Sonoco Products Company (SON) formed H&SI with $58.53 price target or 8.00 % above the current $54.19 share price. The 5 months Head & Shoulders Inverse reveals low risk for the $5.39B company. This trade was featured by Faxor.com on Jan, 13. If the $58.53 target price is reached, the company’s valuation will be $430.96M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock decreased 0.09% or $0.05 during the last trading session, reaching $54.19. About 458,556 shares traded or 10.35% up from the average. Sonoco Products Company (NYSE:SON) has risen 9.55% since January 13, 2017 and is uptrending. It has underperformed by 7.15% the S&P500.

Analysts await Sonoco Products Company (NYSE:SON) to report earnings on February, 8. They expect $0.73 EPS, up 17.74 % or $0.11 from last year’s $0.62 per share. SON’s profit will be $72.57M for 18.56 P/E if the $0.73 EPS becomes a reality. After $0.76 actual EPS reported by Sonoco Products Company for the previous quarter, Wall Street now forecasts -3.95 % negative EPS growth.

Sonoco Products Company (NYSE:SON) Ratings Coverage

Among 13 analysts covering Sonoco Products Company (NYSE:SON), 3 have Buy rating, 1 Sell and 9 Hold. Therefore 23% are positive. Sonoco Products Company had 37 analyst reports since August 7, 2015 according to SRatingsIntel. The company was maintained on Tuesday, July 18 by KeyBanc Capital Markets. The company was downgraded on Friday, July 21 by Vertical Research. The firm has “Hold” rating by Jefferies given on Monday, June 26. Barclays Capital maintained the stock with “Underweight” rating in Monday, July 24 report. The stock has “Hold” rating by Vertical Research on Wednesday, August 2. The firm has “Underweight” rating given on Friday, October 20 by Barclays Capital. The stock of Sonoco Products Company (NYSE:SON) has “Outperform” rating given on Wednesday, July 19 by Robert W. Baird. BMO Capital Markets maintained Sonoco Products Company (NYSE:SON) rating on Friday, August 25. BMO Capital Markets has “Hold” rating and $54.0 target. As per Monday, April 11, the company rating was downgraded by DA Davidson. On Monday, November 23 the stock rating was upgraded by Macquarie Research to “Outperform”.

More news for Sonoco Products Company (NYSE:SON) were recently published by: Nasdaq.com, which released: “Zacks.com highlights: Sonoco Products, Hitachi, AllianceBernstein Holding …” on January 05, 2018. Nasdaq.com‘s article titled: “First Week of February 16th Options Trading For Sonoco Products (SON)” and published on January 02, 2018 is yet another important article.

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