SunOpta (NASDAQ:STKL) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a hold rating to a sell rating in a report issued on Friday morning.

Separately, DA Davidson reiterated a “buy” rating and set a $9.00 price objective on shares of SunOpta in a research report on Thursday, October 10th.

SunOpta Trading Down 0.7 %

Shares of SunOpta stock opened at $6.75 on Friday. SunOpta has a twelve month low of $3.80 and a twelve month high of $7.59. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average price of $6.24 and a 200-day moving average price of $5.86. The firm has a market cap of $806.29 million, a price-to-earnings ratio of -4.86 and a beta of 1.83.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $171.00 million during the quarter, compared to analysts’ expectations of $159.95 million. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The firm’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. Equities research analysts anticipate that SunOpta will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings in SunOpta by 321.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 467,515 shares of the company’s stock valued at $2,525,000 after purchasing an additional 356,700 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of SunOpta by 77.0% during the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock worth $13,543,000 after acquiring an additional 857,603 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in SunOpta by 11.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock valued at $17,273,000 after acquiring an additional 323,397 shares during the period. Vanguard Group Inc. grew its position in SunOpta by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 642,505 shares of the company’s stock valued at $4,414,000 after acquiring an additional 44,905 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in SunOpta in the third quarter worth $6,394,000. Institutional investors own 85.39% of the company’s stock.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.