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 research analysts also recently issued reports about the company. Citigroup Inc. increased their price objective on SunOpta from $8.00 to $11.50 and gave the company a buy rating in a research note on Wednesday, May 31st. BMO Capital Markets reissued a buy rating and issued a $8.50 price objective on shares of SunOpta in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $9.30.
Shares of SunOpta (NASDAQ:STKL) traded down 1.12% during midday trading on Tuesday, reaching $8.85. 258,109 shares of the company’s stock were exchanged. The stock’s market cap is $765.49 million. The company’s 50-day moving average is $9.56 and its 200-day moving average is $8.25. SunOpta has a one year low of $5.73 and a one year high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings data 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. SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The firm had revenue of $336.45 million during the quarter, compared to analyst estimates of $341.18 million. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities analysts expect that SunOpta will post $0.02 earnings per share for the current fiscal year.
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In other SunOpta news, insider Jeffrey Gough purchased 5,000 shares of the stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $8.70 per share, for a total transaction of $43,500.00. Following the acquisition, the insider now owns 20,000 shares in the company, valued at approximately $174,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.88% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Atria Investments LLC acquired a new position in SunOpta during the second quarter worth $104,000. South State Corp purchased a new position in shares of SunOpta during the second quarter worth approximately $110,000. Cookson Peirce & Co. Inc. purchased a new position in shares of SunOpta during the second quarter worth approximately $143,000. 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 worth $103,000 after buying an additional 211 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of SunOpta during the second quarter worth approximately $153,000. Institutional investors and hedge funds own 87.21% of the company’s stock.
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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