Zacks Investment Research cut shares of SunOpta Inc. (NASDAQ:STKL) from a hold rating to a sell rating in a report released on Wednesday.
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. “
STKL has been the subject of several other reports. Citigroup Inc. increased their price objective on SunOpta from $5.50 to $8.00 and gave the company a buy rating in a report on Friday, September 9th. AltaCorp Capital restated an outperform rating on shares of SunOpta in a research report on Tuesday, June 21st. Wunderlich started coverage on SunOpta in a research report on Tuesday, October 11th. They set a buy rating and a $10.00 target price on the stock. DA Davidson increased their target price on SunOpta from $7.00 to $7.50 and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, TheStreet upgraded SunOpta from a sell rating to a hold rating in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. SunOpta presently has an average rating of Buy and a consensus price target of $8.88.
Shares of SunOpta (NASDAQ:STKL) opened at 6.65 on Wednesday. The company’s market cap is $569.33 million. SunOpta has a 12 month low of $3.16 and a 12 month high of $7.40. The company’s 50-day moving average price is $6.79 and its 200-day moving average price is $5.43.
SunOpta (NASDAQ:STKL) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.02. SunOpta had a negative net margin of 3.33% and a positive return on equity of 3.45%. The firm had revenue of $348.10 million for the quarter, compared to the consensus estimate of $361.55 million. During the same period last year, the company posted $0.08 earnings per share. SunOpta’s revenue for the quarter was up 25.4% on a year-over-year basis. Analysts anticipate that SunOpta will post $0.21 EPS for the current year.
Several large investors have recently bought and sold shares of STKL. Quantum Capital Management increased its stake in shares of SunOpta by 71.3% in the first quarter. Quantum Capital Management now owns 29,598 shares of the company’s stock worth $132,000 after buying an additional 12,315 shares during the period. UBS Group AG increased its stake in shares of SunOpta by 34.2% in the first quarter. UBS Group AG now owns 2,827,771 shares of the company’s stock worth $12,612,000 after buying an additional 720,824 shares during the period. Engaged Capital LLC acquired a new stake in shares of SunOpta during the second quarter worth about $220,000. Geode Capital Management LLC increased its stake in shares of SunOpta by 155.9% in the first quarter. Geode Capital Management LLC now owns 97,743 shares of the company’s stock worth $435,000 after buying an additional 59,544 shares during the period. Finally, Aperio Group LLC increased its stake in shares of SunOpta by 33.5% in the first quarter. Aperio Group LLC now owns 135,232 shares of the company’s stock worth $603,000 after buying an additional 33,927 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.
SunOpta Company Profile
SunOpta Inc operates businesses focused on a healthy products portfolio. The Company operates through two segments: Global Ingredients and Consumer Products. Its 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 and seeds, fruits, grain- and cocoa-based ingredients, and other commodities.