SunOpta Inc. (STKL) Receives New Coverage from Analysts at Wunderlich
Equities researchers at Wunderlich initiated coverage on shares of SunOpta Inc. (NASDAQ:STKL) in a research note issued on Tuesday. The firm set a “buy” rating and a $10.00 price target on the stock. Wunderlich’s price objective points to a potential upside of 53.37% from the company’s current price.
A number of other equities analysts have also weighed in on STKL. Zacks Investment Research lowered shares of SunOpta from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. AltaCorp Capital restated an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. DA Davidson boosted their price target on shares of SunOpta from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, August 11th. 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. 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 assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $8.88.
SunOpta (NASDAQ:STKL) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $348.10 million for the quarter, compared to analyst estimates of $361.55 million. SunOpta had a positive return on equity of 3.45% and a negative net margin of 3.33%. The business’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share.
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A number of institutional investors have recently modified their holdings of the company. BlackRock Group LTD increased its position in shares of SunOpta by 105.4% in the second quarter. BlackRock Group LTD now owns 388,345 shares of the company’s stock worth $1,627,000 after buying an additional 199,294 shares during the period. BlackRock Advisors LLC increased its stake in SunOpta by 96.0% in the second quarter. BlackRock Advisors LLC now owns 77,097 shares of the company’s stock worth $323,000 after buying an additional 37,758 shares during the period. Dimensional Fund Advisors LP increased its stake in SunOpta by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 196,066 shares of the company’s stock worth $822,000 after buying an additional 1,959 shares during the period. 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 worth $123,000 after buying an additional 300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 during the period. 77.01% of the stock is currently owned by 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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