DA Davidson Comments on SunOpta Inc.’s Q4 2016 Earnings (STKL)
SunOpta Inc. (NASDAQ:STKL) – Analysts at DA Davidson cut their Q4 2016 earnings per share (EPS) estimates for SunOpta in a research note issued on Monday. DA Davidson analyst E. Gottlieb now forecasts that the brokerage will earn $0.07 per share for the quarter, down from their previous forecast of $0.09. DA Davidson currently has a “Buy” rating and a $7.50 target price on the stock. DA Davidson also issued estimates for SunOpta’s Q1 2017 earnings at $0.10 EPS, Q2 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.11 EPS and FY2017 earnings at $0.40 EPS.
STKL has been the topic of several other reports. AltaCorp Capital reiterated an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. Zacks Investment Research cut shares of SunOpta from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. Citigroup Inc. boosted their price target on shares of SunOpta from $5.50 to $8.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Wunderlich began coverage on shares of SunOpta in a research report on Tuesday. They issued a “buy” rating and a $10.00 price target on the stock. Finally, TheStreet upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. SunOpta presently has a consensus rating of “Buy” and a consensus target price of $8.88.
Shares of SunOpta (NASDAQ:STKL) opened at 6.70 on Wednesday. The company’s market cap is $573.61 million. SunOpta has a 12 month low of $3.16 and a 12 month high of $7.40. The company’s 50-day moving average price is $6.78 and its 200-day moving average price is $5.41.
SunOpta (NASDAQ:STKL) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. SunOpta had a negative net margin of 3.33% and a positive return on equity of 3.45%. The business earned $348.10 million during the quarter, compared to the consensus estimate of $361.55 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company’s revenue for the quarter was up 25.4% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of STKL. Bank of Montreal Can bought a new position in shares of SunOpta during the second quarter worth $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 worth $12,612,000 after buying an additional 720,824 shares in the last quarter. 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 worth $12,658,000 after buying an additional 491,799 shares in the last quarter. 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 worth $6,866,000 after buying an additional 242,251 shares in the last quarter. 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 worth $2,837,000 after buying an additional 233,922 shares in the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.
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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