SunOpta, Inc. (STKL) Rating Lowered to Strong Sell at BidaskClub
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.
Other research analysts have also issued research reports about the stock. Citigroup Inc. increased their price target on shares of SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research raised shares of SunOpta from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Saturday, July 15th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $8.50 price target on shares of SunOpta in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $9.30.
Shares of SunOpta (NASDAQ:STKL) opened at 8.55 on Thursday. SunOpta has a 12 month low of $5.73 and a 12 month high of $10.20. The company has a 50 day moving average price of $9.38 and a 200-day moving average price of $8.31. The firm’s market capitalization is $739.54 million.
SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. SunOpta had a negative return on equity of 0.70% and a negative net margin of 3.70%. The business had revenue of $336.45 million during the quarter, compared to analyst estimates of $341.18 million. During the same period last year, the company earned $0.05 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts expect that SunOpta will post $0.02 EPS for the current fiscal year.
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In other news, insider Jeffrey Gough acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $8.70 per share, with a total value of $43,500.00. Following the completion of the acquisition, the insider now owns 20,000 shares in the company, valued at approximately $174,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.88% of the company’s stock.
Several hedge funds have recently bought and sold shares of STKL. Dimensional Fund Advisors LP raised its stake in SunOpta by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 207,764 shares of the company’s stock valued at $1,465,000 after buying an additional 2,097 shares during the last quarter. Bank of Montreal Can raised its stake in SunOpta by 38.4% in the first quarter. Bank of Montreal Can now owns 1,378,995 shares of the company’s stock valued at $9,583,000 after buying an additional 382,377 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in SunOpta by 21.3% in the first quarter. Essex Investment Management Co. LLC now owns 208,881 shares of the company’s stock valued at $1,452,000 after buying an additional 36,713 shares during the last quarter. Heartland Advisors Inc. raised its stake in SunOpta by 22.2% in the first quarter. Heartland Advisors Inc. now owns 550,000 shares of the company’s stock valued at $3,823,000 after buying an additional 100,000 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in SunOpta by 278.3% in the first quarter. Montag A & Associates Inc. now owns 307,371 shares of the company’s stock valued at $2,136,000 after buying an additional 226,116 shares during the last quarter. 87.21% of the stock is owned by institutional investors.
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The 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, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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