Wunderlich Initiates Coverage on SunOpta Inc. (STKL)
Equities research analysts at Wunderlich initiated coverage on shares of SunOpta Inc. (NASDAQ:STKL) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating and a $10.00 price target on the stock. Wunderlich’s price target would suggest a potential upside of 53.37% from the company’s previous close.
Several other research analysts have also recently issued reports on the company. TheStreet raised SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Citigroup Inc. lifted their price target on SunOpta from $5.50 to $8.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. DA Davidson lifted their price target on SunOpta from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, August 11th. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of SunOpta in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $8.88.
Shares of SunOpta (NASDAQ:STKL) opened at 6.65 on Tuesday. The stock’s 50 day moving average price is $6.76 and its 200 day moving average price is $5.39. SunOpta has a 12-month low of $3.16 and a 12-month high of $7.40. The firm’s market capitalization is $569.33 million.
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SunOpta (NASDAQ:STKL) last announced its earnings results on Wednesday, August 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $348.10 million for the quarter, compared to analysts’ expectations of $361.55 million. SunOpta had a negative net margin of 3.33% and a positive return on equity of 3.45%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. Equities research analysts expect that SunOpta will post $0.21 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its stake in shares of 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 last quarter. Dimensional Fund Advisors LP raised its stake in shares of SunOpta by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 196,066 shares of the company’s stock valued at $822,000 after buying an additional 1,959 shares during the last quarter. Quantum Capital Management raised its stake in shares of SunOpta by 71.3% in the first quarter. Quantum Capital Management now owns 29,598 shares of the company’s stock valued at $132,000 after buying an additional 12,315 shares during the last quarter. KCG Holdings Inc. raised its stake in shares of SunOpta by 194.2% in the second quarter. KCG Holdings Inc. now owns 32,962 shares of the company’s stock valued at $138,000 after buying an additional 21,759 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of SunOpta by 33.5% in the first quarter. Aperio Group LLC now owns 135,232 shares of the company’s stock valued at $603,000 after buying an additional 33,927 shares during the last quarter. Hedge funds and other institutional investors own 77.01% 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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