Zacks Investment Research downgraded shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) from a buy rating to a hold rating in a research note published on Tuesday, July 25th.
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. “
Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets reissued a buy rating and set a $8.50 target price on shares of SunOpta in a research note on Wednesday, April 26th. Citigroup Inc. raised their target price on shares of SunOpta from $8.00 to $11.50 and gave the company a buy rating in a research note on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. SunOpta has a consensus rating of Hold and a consensus price target of $9.30.
Shares of SunOpta (NASDAQ STKL) opened at 9.15 on Tuesday. The company’s 50-day moving average is $9.65 and its 200-day moving average is $8.18. The stock’s market cap is $786.66 million. SunOpta has a 12-month low of $5.73 and a 12-month high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, August 9th. The company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $336.45 million for the quarter, compared to analyst estimates of $341.18 million. SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. On average, analysts expect that SunOpta will post $0.04 earnings per share for the current fiscal year.
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In other SunOpta news, insider Jeffrey Gough acquired 15,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were bought at an average price of $8.49 per share, with a total value of $127,350.00. Following the purchase, the insider now directly owns 6,600 shares of the company’s stock, valued at approximately $56,034. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Duchscher acquired 5,800 shares of the stock in a transaction dated Friday, May 19th. The stock was acquired at an average cost of $8.94 per share, for a total transaction of $51,852.00. Following the purchase, the insider now directly owns 5,800 shares in the company, valued at $51,852. The disclosure for this purchase can be found here. Insiders own 1.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in STKL. Janus Capital Management LLC boosted its position in shares of SunOpta by 1.4% in the first 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 during the last quarter. Aperio Group LLC boosted its position in shares of SunOpta by 0.6% in the second quarter. Aperio Group LLC now owns 52,733 shares of the company’s stock valued at $538,000 after buying an additional 313 shares during the last quarter. Ironwood Investment Management LLC boosted its position in shares of SunOpta by 0.6% in the first quarter. Ironwood Investment Management LLC now owns 134,354 shares of the company’s stock valued at $934,000 after buying an additional 739 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SunOpta by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 207,764 shares of the company’s stock valued at $1,465,000 after buying an additional 2,097 shares during the last quarter. Finally, Hollencrest Securities LLC boosted its position in shares of SunOpta by 14.3% in the second quarter. Hollencrest Securities LLC now owns 24,000 shares of the company’s stock valued at $245,000 after buying an additional 3,000 shares during the last quarter. 87.41% of the stock is currently owned by institutional investors.
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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