SunOpta (STKL) Downgraded by BidaskClub

SunOpta (NASDAQ:STKL) (TSE:SOY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Other equities analysts also recently issued reports about the company. Citigroup reduced their price objective on SunOpta from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, November 20th. Zacks Investment Research upgraded SunOpta from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.88.

Shares of SunOpta (NASDAQ:STKL) traded up $0.10 during midday trading on Friday, hitting $8.15. The stock had a trading volume of 102,563 shares, compared to its average volume of 152,800. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.32 and a quick ratio of 0.45. SunOpta has a fifty-two week low of $6.00 and a fifty-two week high of $10.20.

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

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

Several large investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of SunOpta by 7.3% during the 2nd quarter. FMR LLC now owns 3,808,406 shares of the company’s stock valued at $38,845,000 after acquiring an additional 258,960 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in shares of SunOpta by 21.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,197,138 shares of the company’s stock valued at $19,115,000 after acquiring an additional 381,000 shares during the last quarter. Nicholas Investment Partners LP lifted its position in shares of SunOpta by 48.6% during the 3rd quarter. Nicholas Investment Partners LP now owns 1,046,417 shares of the company’s stock valued at $9,104,000 after acquiring an additional 342,419 shares during the last quarter. Picton Mahoney Asset Management lifted its position in shares of SunOpta by 19.5% during the 2nd quarter. Picton Mahoney Asset Management now owns 244,750 shares of the company’s stock valued at $2,496,000 after acquiring an additional 40,000 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of SunOpta during the 3rd quarter valued at $1,363,000. Institutional investors own 79.28% of the company’s stock.

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About SunOpta

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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