SunOpta (NASDAQ:STKL) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a hold rating to a sell rating in a research report released on Saturday morning, Zacks.com reports.

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 also recently issued reports about the stock. ValuEngine raised shares of SunOpta from a sell rating to a hold rating in a research note on Saturday, May 18th. BidaskClub raised shares of SunOpta from a sell rating to a hold rating in a research note on Thursday, May 9th.

STKL opened at $3.15 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.43 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $282.56 million, a P/E ratio of -11.25 and a beta of 0.92. SunOpta has a 52-week low of $2.21 and a 52-week high of $9.10. The firm’s fifty day moving average is $3.93.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). The business had revenue of $305.28 million for the quarter, compared to the consensus estimate of $308.10 million. SunOpta had a negative net margin of 6.32% and a negative return on equity of 10.69%. As a group, sell-side analysts expect that SunOpta will post -0.3 earnings per share for the current fiscal year.

In other SunOpta news, CEO Joseph Ennen purchased 50,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $3.98 per share, with a total value of $199,000.00. Following the completion of the purchase, the chief executive officer now owns 219,000 shares in the company, valued at approximately $871,620. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 215,000 shares of company stock worth $920,050. Insiders own 2.16% of the company’s stock.

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in SunOpta during the first quarter worth about $87,000. Squarepoint Ops LLC acquired a new stake in SunOpta during the fourth quarter worth about $106,000. Millennium Management LLC acquired a new stake in SunOpta during the fourth quarter worth about $117,000. Boyar Asset Management Inc. increased its position in SunOpta by 73.5% during the first quarter. Boyar Asset Management Inc. now owns 57,510 shares of the company’s stock worth $199,000 after purchasing an additional 24,372 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in SunOpta during the fourth quarter worth about $224,000. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

About SunOpta

SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, and internationally. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.

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