BidaskClub upgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a hold rating in a research report sent to investors on Saturday, January 6th.
Several other equities analysts have also weighed in on the stock. Citigroup reduced their price target on shares of SunOpta from $10.00 to $9.00 and set a buy rating for the company in a research report on Monday, November 20th. Zacks Investment Research downgraded shares of SunOpta from a buy rating to a hold rating in a report on Friday, November 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $8.88.
SunOpta (NASDAQ:STKL) traded down $0.05 during midday trading on Friday, hitting $8.05. 174,293 shares of the stock traded hands, compared to its average volume of 403,717. SunOpta has a 12-month low of $6.00 and a 12-month high of $10.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.45 and a current ratio of 1.32. The company has a market cap of $702.33, a price-to-earnings ratio of -11.67 and a beta of 1.66.
SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results 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 company had revenue of $320.71 million for the quarter, compared to the consensus estimate of $335.68 million. SunOpta had a negative net margin of 3.99% and a negative return on equity of 2.98%. SunOpta’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. equities analysts forecast that SunOpta will post -0.09 EPS for the current fiscal year.
In related news, Director Richard Dean Hollis bought 10,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $7.65 per share, with a total value of $76,500.00. Following the completion of the purchase, the director now directly owns 73,745 shares of the company’s stock, valued at approximately $564,149.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Oaktree Huntington Investment purchased 644,540 shares of SunOpta stock in a transaction on Friday, December 15th. The shares were acquired at an average price of $7.50 per share, for a total transaction of $4,834,050.00. The disclosure for this purchase can be found here. Corporate insiders own 1.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its position in SunOpta by 7.3% during the second quarter. FMR LLC now owns 3,808,406 shares of the company’s stock valued at $38,845,000 after acquiring an additional 258,960 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of SunOpta by 21.0% in the third quarter. Alyeska Investment Group L.P. now owns 2,197,138 shares of the company’s stock worth $19,115,000 after purchasing an additional 381,000 shares during the last quarter. Nicholas Investment Partners LP grew its holdings in shares of SunOpta by 48.6% in the third quarter. Nicholas Investment Partners LP now owns 1,046,417 shares of the company’s stock worth $9,104,000 after purchasing an additional 342,419 shares during the last quarter. Brant Point Investment Management LLC grew its holdings in shares of SunOpta by 3.1% in the second quarter. Brant Point Investment Management LLC now owns 336,400 shares of the company’s stock worth $3,431,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its holdings in shares of SunOpta by 19.5% in the second quarter. Picton Mahoney Asset Management now owns 244,750 shares of the company’s stock worth $2,496,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 79.28% 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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