SunOpta Inc. (STKL) Lowered to Sell at Zacks Investment Research
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 equities analysts have also recently issued reports on the company. Citigroup Inc. upped their price objective on SunOpta from $5.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, September 9th. AltaCorp Capital reaffirmed an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. DA Davidson upped their price objective on SunOpta from $7.00 to $7.50 and gave the company a “buy” rating in a research report on Thursday, August 11th. TheStreet raised SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Wunderlich started coverage on SunOpta in a research report on Tuesday. They issued a “buy” rating and a $10.00 price objective on the stock. One 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. The company presently has a consensus rating of “Buy” and a consensus price target of $8.88.
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SunOpta (NASDAQ:STKL) opened at 6.695 on Wednesday. SunOpta has a 12 month low of $3.16 and a 12 month high of $7.40. The stock has a 50 day moving average price of $6.77 and a 200 day moving average price of $5.40. The stock’s market capitalization is $573.18 million.
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 the consensus estimate of $0.07 by $0.02. The company earned $348.10 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 EPS. On average, equities research analysts forecast that SunOpta will post $0.21 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in STKL. Gamco Investors INC. ET AL boosted its position in 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 boosted its position in 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 boosted its position in 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. boosted its position in 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 boosted its position in 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. 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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