SunOpta, Inc. (STKL) Given Average Recommendation of “Buy” by Analysts
Shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) have been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.50.
A number of equities analysts have recently commented on STKL shares. Citigroup Inc. raised their target price on shares of SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $8.50 target price on shares of SunOpta in a research report on Wednesday, April 26th. Wunderlich lowered shares of SunOpta from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $8.00 in a research report on Thursday, March 2nd. DA Davidson lowered shares of SunOpta from a “buy” rating to a “neutral” rating in a research report on Monday, March 6th. Finally, Zacks Investment Research raised shares of SunOpta from a “strong sell” rating to a “hold” rating and set a $10.00 target price on the stock in a research report on Friday, May 12th.
In other SunOpta news, major shareholder Oaktree Huntington Investment acquired 223,946 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $1,791,568.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Duchscher acquired 5,800 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were acquired at an average price of $8.94 per share, for a total transaction of $51,852.00. Following the completion of the purchase, the insider now owns 5,800 shares of the company’s stock, valued at approximately $51,852. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 257,246 shares of company stock worth $2,071,020. Insiders own 1.88% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC increased its position in SunOpta by 1.4% in the first quarter. Eventide Asset Management LLC now owns 3,887,000 shares of the company’s stock worth $27,015,000 after buying an additional 54,400 shares in the last quarter. FMR LLC increased its position in SunOpta by 85.1% in the first quarter. FMR LLC now owns 3,549,446 shares of the company’s stock worth $24,669,000 after buying an additional 1,631,721 shares in the last quarter. Alyeska Investment Group L.P. increased its position in SunOpta by 74.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,047,689 shares of the company’s stock worth $21,486,000 after buying an additional 1,302,092 shares in the last quarter. Overbrook Management Corp increased its position in SunOpta by 14.0% in the first quarter. Overbrook Management Corp now owns 2,104,326 shares of the company’s stock worth $14,625,000 after buying an additional 258,900 shares in the last quarter. Finally, Factory Mutual Insurance Co. increased its position in SunOpta by 22.6% in the first quarter. Factory Mutual Insurance Co. now owns 1,987,900 shares of the company’s stock worth $13,817,000 after buying an additional 366,000 shares in the last quarter. Hedge funds and other institutional investors own 87.14% of the company’s stock.
SunOpta (STKL) traded up 1.61% during mid-day trading on Tuesday, reaching $9.45. The company’s stock had a trading volume of 143,841 shares. The stock’s market cap is $812.80 million. SunOpta has a one year low of $3.87 and a one year high of $9.95. The firm’s 50 day moving average is $8.85 and its 200-day moving average is $7.56.
SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its earnings results on Wednesday, May 10th. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $330 million for the quarter, compared to analyst estimates of $344.20 million. SunOpta had a negative net margin of 3.95% and a positive return on equity of 0.58%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Equities analysts expect that SunOpta will post $0.08 earnings per share for the current fiscal year.
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SunOpta Inc operates businesses focused on a healthy products portfolio. The Company operates through two segments: Global Ingredients and Consumer Products. The 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, seeds, fruits, grain- and cocoa-based ingredients, and other commodities, which are used in applications serving the natural and organic food industry.
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