SunOpta Inc. (STKL) Downgraded by Zacks Investment Research to Sell
SunOpta Inc. (NASDAQ:STKL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other research firms have also recently commented on STKL. TheStreet raised shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Wunderlich started coverage on shares of SunOpta in a research report on Tuesday. They issued a “buy” rating and a $10.00 price objective on the stock. DA Davidson boosted their price objective on shares of SunOpta from $7.00 to $7.50 and gave the company a “buy” rating in a research report on Thursday, August 11th. Citigroup Inc. boosted their price objective on shares of SunOpta from $5.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of SunOpta in a research 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 given a buy rating to the company’s stock. SunOpta presently has an average rating of “Buy” and a consensus price target of $8.88.
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SunOpta (NASDAQ:STKL) opened at 6.695 on Wednesday. The stock’s 50 day moving average price is $6.77 and its 200 day moving average price is $5.40. The company’s market capitalization is $573.18 million. SunOpta has a 12-month low of $3.16 and a 12-month high of $7.40.
SunOpta (NASDAQ:STKL) last announced 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 firm had revenue of $348.10 million for the quarter, compared to the consensus estimate of $361.55 million. SunOpta had a positive return on equity of 3.45% and a negative net margin of 3.33%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. On average, equities research analysts anticipate that SunOpta will post $0.21 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of STKL. Gamco Investors INC. ET AL boosted 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 period. Quantum Capital Management boosted 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 period. KCG Holdings Inc. boosted 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 period. Engaged Capital LLC acquired a new stake in shares of SunOpta during the second quarter valued at approximately $220,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of SunOpta during the second quarter valued at approximately $292,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.
SunOpta Company Profile
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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