Citigroup Inc. Lowers SunOpta, Inc. (STKL) Price Target to $9.00
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) had its target price cut by Citigroup Inc. from $10.00 to $9.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s target price would indicate a potential upside of 16.13% from the company’s current price.
STKL has been the subject of a number of other reports. Zacks Investment Research upgraded shares of SunOpta from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, October 11th. BidaskClub lowered shares of SunOpta from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $8.88.
Shares of SunOpta (STKL) opened at $7.75 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.45 and a debt-to-equity ratio of 0.64. SunOpta has a 1-year low of $6.00 and a 1-year high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.04). The business had revenue of $320.71 million during the quarter, compared to the consensus estimate of $335.68 million. SunOpta had a negative return on equity of 2.98% and a negative net margin of 3.99%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share. sell-side analysts forecast that SunOpta will post -0.09 EPS for the current fiscal year.
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In related news, CFO Robert Mckeracher sold 36,533 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $8.41, for a total transaction of $307,242.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO John Ruelle sold 38,361 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $8.75, for a total transaction of $335,658.75. Following the sale, the chief accounting officer now owns 38,361 shares of the company’s stock, valued at $335,658.75. The disclosure for this sale can be found here. Corporate insiders own 1.88% of the company’s stock.
A number of large investors have recently bought and sold shares of STKL. Gilder Gagnon Howe & Co. LLC bought a new stake in SunOpta during the 2nd quarter valued at $6,028,000. Blair William & Co. IL bought a new stake in SunOpta during the 2nd quarter valued at $4,565,000. Nicholas Investment Partners LP raised its holdings in SunOpta by 162.7% during the 2nd quarter. Nicholas Investment Partners LP now owns 703,998 shares of the company’s stock valued at $7,182,000 after buying an additional 436,049 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in SunOpta by 21.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,197,138 shares of the company’s stock valued at $19,115,000 after buying an additional 381,000 shares during the last quarter. Finally, Montag A & Associates Inc. raised its holdings in SunOpta by 88.9% during the 2nd quarter. Montag A & Associates Inc. now owns 580,648 shares of the company’s stock valued at $5,923,000 after buying an additional 273,277 shares during the last quarter. Institutional investors own 77.82% 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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