Zacks Investment Research downgraded shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) from a buy rating to a hold rating in a research report released on Friday morning.
According to Zacks, “SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Opta Minerals Group, a producer, distributor, and recycler of environmentally friendly industrial materials; and the SunOpta BioProcess Group which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector. “
Separately, BidaskClub downgraded SunOpta from a buy rating to a hold rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $9.50.
Shares of SunOpta (NASDAQ:STKL) traded down $0.17 during trading on Friday, hitting $7.50. The stock had a trading volume of 497,800 shares, compared to its average volume of 386,190. The company has a quick ratio of 0.44, a current ratio of 1.32 and a debt-to-equity ratio of 0.64. SunOpta has a twelve month low of $6.00 and a twelve month high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). The firm had revenue of $320.71 million during the quarter, compared to analyst estimates of $335.68 million. SunOpta had a negative net margin of 3.99% and a negative return on equity of 2.98%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. equities analysts anticipate that SunOpta will post -0.09 earnings per share for the current fiscal year.
In other news, CFO Robert Mckeracher sold 36,533 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $8.41, for a total transaction of $307,242.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO John Ruelle sold 38,361 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $8.75, for a total value of $335,658.75. Following the sale, the chief accounting officer now directly owns 38,361 shares of the company’s stock, valued at $335,658.75. The disclosure for this sale can be found here. Corporate insiders own 1.88% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in SunOpta during the second quarter valued at $232,000. Alliancebernstein L.P. acquired a new position in SunOpta during the second quarter valued at $351,000. Atria Investments LLC acquired a new position in SunOpta during the second quarter valued at $104,000. Nicholas Investment Partners LP raised its position in SunOpta by 162.7% during the second quarter. Nicholas Investment Partners LP now owns 703,998 shares of the company’s stock valued at $7,182,000 after buying an additional 436,049 shares during the period. Finally, FMR LLC raised its position in SunOpta by 85.1% during the first quarter. FMR LLC now owns 3,549,446 shares of the company’s stock valued at $24,669,000 after buying an additional 1,631,721 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.
SunOpta Company Profile
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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