SunOpta, Inc. (STKL) Stock Rating Lowered by Zacks Investment Research
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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 also recently issued reports on STKL. Citigroup Inc. lifted their price objective on SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, May 31st. BMO Capital Markets restated a “buy” rating and set a $8.50 price objective on shares of SunOpta in a report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.30.
SunOpta (STKL) opened at 10.00 on Tuesday. The company’s 50-day moving average price is $9.74 and its 200-day moving average price is $8.00. The company’s market cap is $860.11 million. SunOpta has a 12-month low of $5.25 and a 12-month high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Wednesday, May 10th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $330 million for the quarter, compared to the consensus estimate of $344.20 million. SunOpta had a positive return on equity of 0.58% and a negative net margin of 3.95%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. Equities analysts anticipate that SunOpta will post $0.08 earnings per share for the current year.
In related news, Director M Shan Atkins acquired 12,500 shares of SunOpta stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average price of $8.02 per share, for a total transaction of $100,250.00. Following the transaction, the director now directly owns 25,881 shares of the company’s stock, valued at approximately $207,565.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Oaktree Huntington Investment acquired 223,946 shares of SunOpta stock in a transaction that occurred on Friday, May 12th. The shares were bought 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 bought 257,246 shares of company stock valued at $2,071,020. Insiders own 1.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC bought a new position in SunOpta during the second quarter worth about $104,000. Janus Capital Management LLC raised its position in SunOpta by 1.4% in the first quarter. Janus Capital Management LLC now owns 14,869 shares of the company’s stock worth $103,000 after buying an additional 211 shares in the last quarter. Hollencrest Securities LLC raised its position in SunOpta by 40.0% in the first quarter. Hollencrest Securities LLC now owns 21,000 shares of the company’s stock worth $146,000 after buying an additional 6,000 shares in the last quarter. Trexquant Investment LP bought a new position in SunOpta during the first quarter worth about $181,000. Finally, Gamco Investors INC. ET AL raised its position in SunOpta by 13.0% in the first quarter. Gamco Investors INC. ET AL now owns 27,000 shares of the company’s stock worth $188,000 after buying an additional 3,100 shares in the last quarter. Institutional investors and hedge funds own 86.66% of the company’s stock.
SunOpta Company Profile
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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