BidaskClub Upgrades SunOpta (STKL) to “Hold”

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

Several other equities research analysts have also issued reports on the company. Citigroup dropped their price objective on 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 lowered SunOpta from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. SunOpta has a consensus rating of “Hold” and a consensus price target of $8.88.

SunOpta (NASDAQ STKL) traded up $0.45 during trading hours on Friday, reaching $8.70. The company had a trading volume of 594,000 shares, compared to its average volume of 257,480. The company has a market capitalization of $756.88, a price-to-earnings ratio of -12.99 and a beta of 1.65. SunOpta has a 12 month low of $6.00 and a 12 month high of $10.20. The company has a quick ratio of 0.45, a current ratio of 1.32 and a debt-to-equity ratio of 0.64.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted 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 the consensus estimate of $335.68 million. SunOpta had a negative net margin of 3.99% and a negative return on equity of 2.98%. SunOpta’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. equities analysts predict that SunOpta will post -0.09 earnings per share for the current year.

In other news, Director Richard Dean Hollis purchased 10,000 shares of the company’s stock in a transaction 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 completion of the purchase, the director now directly owns 73,745 shares in the company, valued at approximately $564,149.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Oaktree Huntington Investment purchased 644,540 shares of the company’s stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $7.50 per share, with a total value of $4,834,050.00. The disclosure for this purchase can be found here. Insiders own 1.88% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of SunOpta by 96.1% in the second quarter. Bank of New York Mellon Corp now owns 145,462 shares of the company’s stock worth $1,483,000 after buying an additional 71,266 shares during the period. Westpac Banking Corp purchased a new position in shares of SunOpta in the second quarter worth about $351,000. JPMorgan Chase & Co. purchased a new position in shares of SunOpta in the second quarter worth about $232,000. Alliancebernstein L.P. purchased a new position in shares of SunOpta in the second quarter worth about $351,000. Finally, South State Corp purchased a new position in shares of SunOpta in the second quarter worth about $110,000. 79.28% of the stock is owned by hedge funds and other institutional investors.

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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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