SunOpta Inc. (STKL) Receives “Buy” Rating from DA Davidson
SunOpta Inc. (NASDAQ:STKL)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a report issued on Wednesday. They presently have a $7.50 target price on the stock. DA Davidson’s price target suggests a potential upside of 12.02% from the stock’s current price.
Several other research firms have also recently issued reports on STKL. Citigroup Inc. lifted their price objective 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 lowered shares of SunOpta from a “hold” rating to a “sell” rating in a research note on Wednesday. Wunderlich assumed coverage on shares of SunOpta in a research note on Tuesday. They issued a “buy” rating and a $10.00 target price on the stock. TheStreet raised shares of SunOpta from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, AltaCorp Capital reissued an “outperform” rating on shares of SunOpta in a research note on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. SunOpta presently has a consensus rating of “Buy” and a consensus price target of $8.88.
Shares of SunOpta (NASDAQ:STKL) traded up 0.37% on Wednesday, reaching $6.72. The company had a trading volume of 461,019 shares. The stock’s market capitalization is $575.32 million. The company’s 50 day moving average price is $6.77 and its 200-day moving average price is $5.40. SunOpta has a 1-year low of $3.16 and a 1-year high of $7.40.
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SunOpta (NASDAQ:STKL) last posted its quarterly earnings data 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. SunOpta had a positive return on equity of 3.45% and a negative net margin of 3.33%. The firm earned $348.10 million during the quarter, compared to analyst estimates of $361.55 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Equities analysts predict that SunOpta will post $0.21 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in SunOpta during the second quarter valued at approximately $5,769,000. UBS Group AG raised its stake in SunOpta by 34.2% in the first quarter. UBS Group AG now owns 2,827,771 shares of the company’s stock valued at $12,612,000 after buying an additional 720,824 shares during the last quarter. Royce & Associates LP raised its stake in SunOpta by 21.0% in the first quarter. Royce & Associates LP now owns 2,838,169 shares of the company’s stock valued at $12,658,000 after buying an additional 491,799 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 valued at $6,866,000 after buying an additional 242,251 shares during the last quarter. Finally, Financial & Investment Management Group Ltd. raised its stake in SunOpta by 52.8% in the second quarter. Financial & Investment Management Group Ltd. now owns 677,072 shares of the company’s stock valued at $2,837,000 after buying an additional 233,922 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other 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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