SunOpta, Inc. (NASDAQ:STKL) Given Average Recommendation of “Buy” by Brokerages
Shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) have received a consensus recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.75.
Several equities analysts recently commented on the company. Citigroup Inc. raised their target price on SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research upgraded SunOpta from a “strong sell” rating to a “hold” rating and set a $10.00 target price for the company in a research report on Friday, May 12th. Finally, BMO Capital Markets restated a “buy” rating and set a $8.50 target price on shares of SunOpta in a research report on Wednesday, April 26th.
In other SunOpta news, Director M Shan Atkins acquired 12,500 shares of the business’s stock in a transaction on Friday, May 12th. The stock was purchased at an average price of $8.02 per share, for a total transaction of $100,250.00. Following the transaction, the director now owns 25,881 shares in the company, valued at approximately $207,565.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Oaktree Huntington Investment acquired 223,946 shares of the business’s stock in a transaction on Friday, May 12th. The stock was acquired at an average price of $8.00 per share, with a total value of $1,791,568.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 257,246 shares of company stock valued at $2,071,020. Corporate insiders own 1.88% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of SunOpta by 85.1% in the first quarter. FMR LLC now owns 3,549,446 shares of the company’s stock valued at $24,669,000 after buying an additional 1,631,721 shares during the last quarter. Pictet Asset Management Ltd. acquired a new position in shares of SunOpta during the first quarter valued at about $3,717,000. Bank of Montreal Can increased its position in shares of SunOpta by 38.4% in the first quarter. Bank of Montreal Can now owns 1,378,995 shares of the company’s stock valued at $9,583,000 after buying an additional 382,377 shares during the last quarter. Factory Mutual Insurance Co. increased its position in shares of SunOpta by 22.6% in the first quarter. Factory Mutual Insurance Co. now owns 1,987,900 shares of the company’s stock valued at $13,817,000 after buying an additional 366,000 shares during the last quarter. Finally, Brant Point Investment Management LLC acquired a new position in shares of SunOpta during the first quarter valued at about $2,268,000. Hedge funds and other institutional investors own 86.97% of the company’s stock.
Shares of SunOpta (NASDAQ STKL) traded up 0.51% during midday trading on Monday, reaching $9.80. The company’s stock had a trading volume of 135,964 shares. SunOpta has a 52-week low of $4.91 and a 52-week high of $10.20. The company’s market capitalization is $842.91 million. The stock has a 50 day moving average price of $9.41 and a 200-day moving average price of $7.70.
SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. SunOpta had a positive return on equity of 0.58% and a negative net margin of 3.95%. The company had revenue of $330 million for the quarter, compared to analyst estimates of $344.20 million. During the same quarter last year, the firm earned $0.03 EPS. SunOpta’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts expect that SunOpta will post $0.08 EPS for the current year.
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following 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.
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