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

SunOpta (NASDAQ:STKLGet Rating) (TSE:SOY) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of SunOpta from a “d+” rating to a “c-” rating in a report on Thursday, May 12th. Canaccord Genuity Group cut their price target on shares of SunOpta from $15.00 to $12.00 in a report on Friday, February 25th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $14.25.

Shares of NASDAQ STKL opened at $7.11 on Friday. The stock has a market capitalization of $774.45 million, a P/E ratio of -142.20 and a beta of 1.66. The company has a 50-day moving average price of $6.54 and a 200-day moving average price of $5.92. SunOpta has a 1 year low of $4.22 and a 1 year high of $12.85. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.08 and a quick ratio of 0.75.

SunOpta (NASDAQ:STKLGet Rating) (TSE:SOY) last issued its quarterly earnings data on Wednesday, May 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $240.17 million during the quarter, compared to analysts’ expectations of $224.58 million. SunOpta had a negative net margin of 0.19% and a positive return on equity of 0.52%. As a group, equities research analysts anticipate that SunOpta will post 0.03 earnings per share for the current fiscal year.

In other SunOpta news, major shareholder Engaged Capital Llc sold 602,837 shares of SunOpta stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $7.01, for a total value of $4,225,887.37. Following the sale, the insider now owns 437,489 shares of the company’s stock, valued at $3,066,797.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Largey sold 6,788 shares of SunOpta stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $7.14, for a total transaction of $48,466.32. Following the completion of the sale, the insider now directly owns 71,355 shares in the company, valued at approximately $509,474.70. The disclosure for this sale can be found here. 4.68% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in SunOpta by 4.4% in the first quarter. State Street Corp now owns 36,947 shares of the company’s stock worth $185,000 after acquiring an additional 1,572 shares during the period. BlackRock Inc. raised its position in shares of SunOpta by 22.0% in the third quarter. BlackRock Inc. now owns 9,222 shares of the company’s stock valued at $82,000 after purchasing an additional 1,663 shares during the period. Shell Asset Management Co. raised its position in shares of SunOpta by 35.0% in the fourth quarter. Shell Asset Management Co. now owns 8,092 shares of the company’s stock valued at $56,000 after purchasing an additional 2,096 shares during the period. Ironwood Investment Management LLC raised its position in shares of SunOpta by 1.5% in the first quarter. Ironwood Investment Management LLC now owns 152,455 shares of the company’s stock valued at $765,000 after purchasing an additional 2,325 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of SunOpta by 81.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,200 shares of the company’s stock valued at $26,000 after purchasing an additional 2,338 shares during the period. 74.13% of the stock is currently owned by institutional investors and hedge funds.

About SunOpta (Get Rating)

SunOpta Inc manufactures and sells plant-based and fruit-based food and beverage products to retail customers, foodservice distributors, branded food companies, and food manufacturers worldwide. The company operates through two segments, Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages.

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