SunOpta, Inc. (STKL) Lifted to “Buy” at Zacks Investment Research
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $10.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 8.11% from the stock’s current price.
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. “
Separately, BidaskClub cut shares of SunOpta from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.10.
Shares of SunOpta (NASDAQ:STKL) remained flat at $9.25 during trading on Wednesday. 181,712 shares of the company were exchanged. The stock’s market capitalization is $800.09 million. The company has a 50 day moving average of $8.62 and a 200 day moving average of $8.66. SunOpta has a 12 month low of $6.00 and a 12 month high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The firm had revenue of $336.45 million for the quarter, compared to analyst estimates of $341.18 million. SunOpta had a negative return on equity of 0.70% and a negative net margin of 3.70%. SunOpta’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Equities research analysts anticipate that SunOpta will post $0.02 earnings per share for the current fiscal year.
In other news, CFO Robert Mckeracher sold 36,533 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $8.41, for a total transaction of $307,242.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Gough acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $8.70 per share, for a total transaction of $43,500.00. Following the purchase, the insider now directly owns 20,000 shares in the company, valued at $174,000. The disclosure for this purchase can be found here. 1.88% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in STKL. Janus Capital Management LLC lifted its position in shares of SunOpta by 1.4% during the 1st quarter. Janus Capital Management LLC now owns 14,869 shares of the company’s stock valued at $103,000 after buying an additional 211 shares in the last quarter. Atria Investments LLC purchased a new position in shares of SunOpta during the 2nd quarter valued at approximately $104,000. South State Corp purchased a new position in shares of SunOpta during the 2nd quarter valued at approximately $110,000. Cookson Peirce & Co. Inc. purchased a new position in shares of SunOpta during the 2nd quarter valued at approximately $143,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of SunOpta during the 2nd quarter valued at approximately $153,000. Hedge funds and other institutional investors own 81.94% 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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