SunOpta (NASDAQ:STKL) (TSE:SOY) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other analysts have also recently issued reports on the company. Zacks Investment Research upgraded SunOpta from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Citigroup cut their price target on SunOpta from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, November 20th. Finally, ValuEngine cut SunOpta from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $9.17.
Shares of SunOpta (NASDAQ:STKL) opened at $7.40 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.45 and a current ratio of 1.29. SunOpta has a 1 year low of $6.27 and a 1 year high of $10.20. The stock has a market capitalization of $642.36, a PE ratio of -4.46 and a beta of 1.36.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Tuesday, February 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). SunOpta had a negative return on equity of 3.73% and a negative net margin of 10.57%. The business had revenue of $292.40 million for the quarter, compared to analysts’ expectations of $291.04 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. analysts forecast that SunOpta will post -0.01 EPS for the current fiscal year.
In other news, major shareholder Oaktree Huntington Investment purchased 644,540 shares of the business’s stock in a transaction on Friday, December 15th. The stock was acquired at an average price of $7.50 per share, for a total transaction of $4,834,050.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard Dean Hollis purchased 25,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were purchased at an average price of $7.02 per share, with a total value of $175,500.00. Following the acquisition, the director now directly owns 102,391 shares in the company, valued at $718,784.82. The disclosure for this purchase can be found here. Insiders have acquired a total of 673,040 shares of company stock valued at $5,034,365 in the last 90 days. 1.88% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in SunOpta during the 4th quarter valued at approximately $102,000. Marble Harbor Investment Counsel LLC purchased a new position in SunOpta during the 3rd quarter valued at approximately $157,000. Alliancebernstein L.P. purchased a new position in SunOpta during the 4th quarter valued at approximately $153,000. Two Sigma Securities LLC purchased a new position in SunOpta during the 4th quarter valued at approximately $154,000. Finally, Fox Run Management L.L.C. purchased a new position in SunOpta during the 4th quarter valued at approximately $162,000. Institutional investors and hedge funds own 82.50% of the company’s stock.
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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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