BidaskClub Upgrades SunOpta (STKL) to “Hold”

SunOpta (NASDAQ:STKL) (TSE:SOY) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other research analysts also recently issued research reports about the stock. Citigroup decreased their price target on shares of SunOpta from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, November 20th. Zacks Investment Research upgraded shares of SunOpta from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. SunOpta presently has a consensus rating of “Hold” and an average target price of $8.88.

SunOpta (NASDAQ:STKL) traded up $0.20 during midday trading on Friday, hitting $8.25. 222,634 shares of the stock traded hands, compared to its average volume of 369,821. The company has a current ratio of 1.32, a quick ratio of 0.45 and a debt-to-equity ratio of 0.64. SunOpta has a twelve month low of $6.00 and a twelve month high of $10.20. The stock has a market capitalization of $697.99, a price-to-earnings ratio of -11.96 and a beta of 1.66.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings data on Wednesday, November 8th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). SunOpta had a negative net margin of 3.99% and a negative return on equity of 2.98%. The business had revenue of $320.71 million during the quarter, compared to analysts’ expectations of $335.68 million. During the same period in the previous year, the business posted $0.07 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. analysts forecast that SunOpta will post -0.09 EPS for the current fiscal year.

In other news, major shareholder Oaktree Huntington Investment purchased 644,540 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average price of $7.50 per share, for a total transaction of $4,834,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Dean Hollis purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average price of $7.65 per share, with a total value of $76,500.00. Following the purchase, the director now directly owns 73,745 shares of the company’s stock, valued at $564,149.25. The disclosure for this purchase can be found here. 1.88% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in SunOpta during the second quarter worth approximately $232,000. Alliancebernstein L.P. acquired a new stake in SunOpta during the second quarter worth approximately $351,000. Nicholas Investment Partners LP raised its holdings in SunOpta by 162.7% during the second quarter. Nicholas Investment Partners LP now owns 703,998 shares of the company’s stock worth $7,182,000 after purchasing an additional 436,049 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in SunOpta during the second quarter worth approximately $369,000. Finally, Westpac Banking Corp acquired a new stake in SunOpta during the second quarter worth approximately $351,000. Institutional investors own 79.28% of the company’s stock.

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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.

Analyst Recommendations for SunOpta (NASDAQ:STKL)

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