SunOpta Inc. (STKL) Lowered to Sell at Zacks Investment Research
SunOpta Inc. (NASDAQ:STKL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
Other analysts have also issued reports about the company. Wunderlich began coverage on SunOpta in a report on Tuesday. They set a “buy” rating and a $10.00 price target on the stock. TheStreet upgraded SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. DA Davidson lifted their price target on SunOpta from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, August 11th. AltaCorp Capital reiterated an “outperform” rating on shares of SunOpta in a report on Tuesday, June 21st. Finally, Citigroup Inc. lifted their price target on SunOpta from $5.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. SunOpta currently has a consensus rating of “Buy” and an average target price of $8.88.
Shares of SunOpta (NASDAQ:STKL) opened at 6.695 on Wednesday. SunOpta has a 52-week low of $3.16 and a 52-week high of $7.40. The company’s market capitalization is $573.18 million. The stock’s 50 day moving average price is $6.77 and its 200-day moving average price is $5.40.
SunOpta (NASDAQ:STKL) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.02. The business had revenue of $348.10 million for the quarter, compared to the consensus estimate of $361.55 million. SunOpta had a positive return on equity of 3.45% and a negative net margin of 3.33%. The business’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. On average, equities analysts expect that SunOpta will post $0.21 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of SunOpta during the second quarter valued at $5,769,000. UBS Group AG boosted its position in shares of SunOpta by 34.2% in the first quarter. UBS Group AG now owns 2,827,771 shares of the company’s stock valued at $12,612,000 after buying an additional 720,824 shares during the period. Royce & Associates LP boosted its position in shares of SunOpta by 21.0% in the first quarter. Royce & Associates LP now owns 2,838,169 shares of the company’s stock valued at $12,658,000 after buying an additional 491,799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SunOpta by 17.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,640,078 shares of the company’s stock valued at $6,866,000 after buying an additional 242,251 shares during the period. Finally, Financial & Investment Management Group Ltd. boosted its position in shares of SunOpta by 52.8% in the second quarter. Financial & Investment Management Group Ltd. now owns 677,072 shares of the company’s stock valued at $2,837,000 after buying an additional 233,922 shares during the period. 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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