Sonoco Products Company (SON - Free Report) has joined Amazon Packaging Support and Supplier Network (APASS) — a program designed by Amazon.com, Inc. (AMZN - Free Report) — to test and certify packaging.
Amazon has designed APASS to help support vendors, sellers and manufacturers to obtain certification of their products as Frustration Free Packaging (FFP), Ships-in-Own-Container (SIOC) or Prep-Free Packaging (PFP). For that, Amazon gives a list of companies and labs to vendors which can help test, design, and supply packaging in line with its Packaging Certifications.
Per the agreement, Sonoco will provide APASS services directly to manufacturers via its Protective Solutions Division by employing internal design and prototyping capabilities, along with ISTA certified testing. The company will also collaborate with other brands to design and certify packaging in order to meet Amazon's unique requirements.
Moreover, Sonoco’s design and testing proficiency will help companies meet packaging needs for medium-to-heavy bulky goods, as well as protect and sell their products more cost effectively.
Sonoco expects that its Protective Solution segment’s results will be backed by favorable blend of paper and polymer which will continue to produce consistent earnings and improve returns. Further, its continued focus on targeted acquisitions and development of new products will drive growth.
Share Price Performance
Sonoco’s shares have outperformed the industry with respect to price, over the past year. The company’s shares have gained around 5%, while the industry recorded growth of 2%.
Zacks Rank & Other Stocks to Consider
Sonoco currently carries a Zacks Rank #2 (Buy).
Both Cintas Corporation (CTAS - Free Report) and Tetra Tech, Inc. (TTEK - Free Report) belong to the same sector, carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cintas has a long-term earnings growth rate of 12%. Its shares have appreciated a 51%, over the past year.
Tetra Tech has a long-term earnings growth rate of 13.3%. The company’s shares have been up 23% in the past year.
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