SunOpta Inc. (STKL) Earns “Buy” Rating from DA Davidson
SunOpta Inc. (NASDAQ:STKL)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research note issued to investors on Wednesday. They presently have a $7.50 target price on the stock. DA Davidson’s target price would suggest a potential upside of 12.02% from the company’s previous close.
STKL has been the subject of a number of other reports. AltaCorp Capital reaffirmed an “outperform” rating on shares of SunOpta in a report on Tuesday, June 21st. Zacks Investment Research lowered shares of SunOpta from a “hold” rating to a “sell” rating in a report on Friday, August 12th. Citigroup Inc. raised their price objective on shares of SunOpta from $5.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Wunderlich initiated coverage on shares of SunOpta in a report on Tuesday. They set a “buy” rating and a $10.00 price objective for the company. Finally, TheStreet raised shares of SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. SunOpta presently has a consensus rating of “Buy” and a consensus price target of $8.88.
Shares of SunOpta (NASDAQ:STKL) traded up 0.37% on Wednesday, hitting $6.72. 461,019 shares of the stock were exchanged. The firm’s 50 day moving average price is $6.77 and its 200 day moving average price is $5.40. The firm’s market cap is $575.32 million. SunOpta has a one year low of $3.16 and a one year high of $7.40.
SunOpta (NASDAQ:STKL) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $348.10 million for the quarter, compared to analyst estimates of $361.55 million. SunOpta had a negative net margin of 3.33% and a positive return on equity of 3.45%. SunOpta’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. Equities analysts anticipate that SunOpta will post $0.21 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its position in SunOpta by 1.0% in the second quarter. Gamco Investors INC. ET AL now owns 29,300 shares of the company’s stock worth $123,000 after buying an additional 300 shares during the last quarter. Quantum Capital Management increased its position in SunOpta by 71.3% in the first quarter. Quantum Capital Management now owns 29,598 shares of the company’s stock worth $132,000 after buying an additional 12,315 shares during the last quarter. KCG Holdings Inc. increased its position in SunOpta by 194.2% in the second quarter. KCG Holdings Inc. now owns 32,962 shares of the company’s stock worth $138,000 after buying an additional 21,759 shares during the last quarter. Engaged Capital LLC acquired a new position in SunOpta during the second quarter worth about $220,000. Finally, A.R.T. Advisors LLC acquired a new position in SunOpta during the second quarter worth about $292,000. Institutional investors own 77.01% of the company’s stock.
SunOpta Inc operates businesses focused on a healthy products portfolio. The Company operates through two segments: Global Ingredients and Consumer Products. Its 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 and seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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