SunOpta, Inc. (STKL) Shares Down 6.7%
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY)’s share price was down 6.7% during mid-day trading on Tuesday . The stock traded as low as $6.95 and last traded at $7.00. Approximately 609,700 shares traded hands during trading, an increase of 34% from the average daily volume of 455,052 shares. The stock had previously closed at $7.50.
Several equities analysts recently issued reports on STKL shares. Zacks Investment Research raised shares of SunOpta from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Saturday, July 22nd. BidaskClub downgraded shares of SunOpta from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.50.
The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.45 and a current ratio of 1.32.
SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Wednesday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). The firm had revenue of $320.71 million during the quarter, compared to analyst estimates of $335.68 million. SunOpta had a negative net margin of 3.99% and a negative return on equity of 2.98%. SunOpta’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. equities research analysts expect that SunOpta, Inc. will post -0.09 earnings per share for the current year.
In other news, CFO Robert Mckeracher sold 36,533 shares of SunOpta stock in a transaction on Friday, September 15th. The shares were sold at an average price of $8.41, for a total transaction of $307,242.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John Ruelle sold 38,361 shares of SunOpta stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $8.75, for a total transaction of $335,658.75. Following the sale, the chief accounting officer now owns 38,361 shares of the company’s stock, valued at $335,658.75. The disclosure for this sale can be found here. 1.88% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of STKL. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of SunOpta during the second quarter worth $6,028,000. Blair William & Co. IL acquired a new stake in shares of SunOpta during the second quarter worth $4,565,000. Nicholas Investment Partners LP lifted its stake in shares of SunOpta by 162.7% during the second quarter. Nicholas Investment Partners LP now owns 703,998 shares of the company’s stock worth $7,182,000 after buying an additional 436,049 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of SunOpta by 21.0% during the third quarter. Alyeska Investment Group L.P. now owns 2,197,138 shares of the company’s stock worth $19,115,000 after buying an additional 381,000 shares during the period. Finally, Montag A & Associates Inc. lifted its stake in shares of SunOpta by 88.9% during the second quarter. Montag A & Associates Inc. now owns 580,648 shares of the company’s stock worth $5,923,000 after buying an additional 273,277 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.
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SunOpta Company Profile
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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