BMO Capital Markets Reiterates “Buy” Rating for SunOpta Inc. (STKL)
SunOpta Inc. (NASDAQ:STKL)‘s stock had its “buy” rating reiterated by BMO Capital Markets in a research report issued on Thursday.
Several other brokerages also recently commented on STKL. Citigroup Inc. lifted their target price on shares of SunOpta from $5.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, September 9th. DA Davidson reaffirmed a “buy” rating and set a $7.50 target price on shares of SunOpta in a report on Wednesday, October 12th. Zacks Investment Research downgraded shares of SunOpta from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. Wunderlich began coverage on shares of SunOpta in a report on Tuesday, October 11th. They set a “buy” rating and a $10.00 target price 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 six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.88.
Shares of SunOpta (NASDAQ:STKL) opened at 6.70 on Thursday. The stock’s 50 day moving average is $6.67 and its 200 day moving average is $5.66. SunOpta has a 12-month low of $3.16 and a 12-month high of $7.40. The firm’s market cap is $573.65 million.
SunOpta (NASDAQ:STKL) last announced its earnings results on Wednesday, November 9th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business earned $348.73 million during the quarter, compared to the consensus estimate of $360.50 million. SunOpta had a negative net margin of 3.50% and a positive return on equity of 3.75%. SunOpta’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS. Equities analysts expect that SunOpta will post $0.20 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of STKL. Morgan Stanley increased its stake in SunOpta by 1.1% in the third quarter. Morgan Stanley now owns 8,023,782 shares of the company’s stock worth $56,648,000 after buying an additional 89,567 shares in the last quarter. Engineers Gate Manager LP increased its stake in SunOpta by 69.4% in the third quarter. Engineers Gate Manager LP now owns 36,277 shares of the company’s stock worth $256,000 after buying an additional 14,865 shares in the last quarter. Heartland Advisors Inc. acquired a new stake in SunOpta during the third quarter worth about $2,824,000. Engaged Capital LLC acquired a new stake in SunOpta during the second quarter worth about $220,000. Finally, Proxima Capital Management LLC acquired a new stake in SunOpta during the second quarter worth about $648,000. 76.14% of the stock is 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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