SunOpta (NASDAQ:STKL) Rating Increased to Hold at StockNews.com

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

SunOpta Stock Performance

Shares of STKL opened at $6.42 on Thursday. SunOpta has a 12-month low of $2.79 and a 12-month high of $7.59. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 1.67. The company has a market cap of $766.87 million, a PE ratio of -4.65 and a beta of 1.83. The stock has a 50-day moving average price of $6.15 and a 200-day moving average price of $5.91.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $171.00 million for the quarter, compared to analyst estimates of $159.95 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. As a group, equities analysts forecast that SunOpta will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STKL. Creative Planning boosted its stake in shares of SunOpta by 9.3% in the 3rd quarter. Creative Planning now owns 30,716 shares of the company’s stock valued at $196,000 after purchasing an additional 2,617 shares in the last quarter. Tealwood Asset Management Inc. purchased a new position in shares of SunOpta in the third quarter worth about $80,000. SG Americas Securities LLC purchased a new position in shares of SunOpta in the third quarter worth about $6,394,000. Cubist Systematic Strategies LLC bought a new stake in shares of SunOpta in the 2nd quarter valued at about $234,000. Finally, Granite Bay Wealth Management LLC bought a new position in SunOpta during the 2nd quarter worth approximately $219,000. 85.39% of the stock is currently owned by institutional investors.

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.