SunOpta Inc. (STKL) Stock Rating Upgraded by Zacks Investment Research
SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
A number of other research analysts have also recently weighed in on the stock. BMO Capital Markets restated a “buy” rating on shares of SunOpta in a report on Thursday, November 10th. DA Davidson restated a “buy” rating and issued a $7.50 price objective on shares of SunOpta in a report on Wednesday, October 12th. Wunderlich started coverage on shares of SunOpta in a report on Tuesday, October 11th. They issued a “buy” rating and a $10.00 price objective for the company. 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 report on Friday, September 9th. Finally, TheStreet upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $8.88.
SunOpta (NASDAQ:STKL) opened at 7.35 on Tuesday. SunOpta has a 12-month low of $3.16 and a 12-month high of $7.50. The firm has a 50 day moving average of $6.70 and a 200-day moving average of $5.70. The stock’s market cap is $629.30 million.
SunOpta (NASDAQ:STKL) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm earned $348.73 million during the quarter, compared to analysts’ expectations of $360.50 million. SunOpta had a negative net margin of 3.50% and a positive return on equity of 3.75%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, analysts expect that SunOpta will post $0.20 earnings per share for the current year.
In other SunOpta news, Director Richard Dean Hollis purchased 50,000 shares of SunOpta stock in a transaction that occurred on Friday, November 11th. The stock was purchased at an average price of $6.55 per share, for a total transaction of $327,500.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $327,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in STKL. Gamco Investors INC. ET AL increased its stake in SunOpta by 1.0% in the second quarter. Gamco Investors INC. ET AL now owns 29,300 shares of the company’s stock valued at $123,000 after buying an additional 300 shares during the period. Quantum Capital Management increased its position in shares of 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 shares of 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 purchased a new position in shares of SunOpta during the second quarter worth approximately $220,000. Finally, Engineers Gate Manager LP increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 71.17% 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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