SunOpta, Inc. (STKL) Cut to Strong Sell at BidaskClub
BidaskClub cut shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) from a sell rating to a strong sell rating in a research note issued to investors on Thursday.
Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded SunOpta from a buy rating to a hold rating in a research report on Tuesday, July 25th. Citigroup Inc. raised their price target on SunOpta from $8.00 to $11.50 and gave the company a buy rating in a report on Wednesday, May 31st. Finally, BMO Capital Markets reissued a buy rating and set a $8.50 price target on shares of SunOpta in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $9.30.
Shares of SunOpta (NASDAQ:STKL) opened at 8.55 on Thursday. The firm’s market capitalization is $739.54 million. The stock’s 50 day moving average price is $9.38 and its 200 day moving average price is $8.31. 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) earnings per share 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 analysts’ expectations of $341.18 million. SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. SunOpta’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. Equities research analysts expect that SunOpta will post $0.02 earnings per share for the current year.
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In other news, insider Jeffrey Gough bought 5,000 shares of SunOpta stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $8.70 per share, with a total value of $43,500.00. Following the completion of the acquisition, the insider now owns 20,000 shares of the company’s stock, valued at approximately $174,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.88% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of STKL. Cookson Peirce & Co. Inc. purchased a new stake in shares of SunOpta during the second quarter valued at about $143,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of SunOpta during the second quarter valued at about $369,000. Gotham Asset Management LLC purchased a new stake in shares of SunOpta during the second quarter valued at about $1,186,000. Janus Henderson Group PLC purchased a new stake in shares of SunOpta during the second quarter valued at about $513,000. Finally, Picton Mahoney Asset Management boosted its stake in shares of SunOpta by 19.5% in the second quarter. Picton Mahoney Asset Management now owns 244,750 shares of the company’s stock valued at $2,496,000 after buying an additional 40,000 shares during the period. 87.21% of the stock is currently owned by hedge funds and other 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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