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

StockNews.com upgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a hold rating in a report published on Saturday morning.

SunOpta Stock Up 1.3 %

STKL opened at $6.24 on Friday. The stock has a market cap of $745.24 million, a price-to-earnings ratio of -4.11 and a beta of 1.85. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.61 and a current ratio of 1.27. The firm’s fifty day moving average is $5.46 and its 200 day moving average is $5.93. SunOpta has a fifty-two week low of $2.79 and a fifty-two week high of $7.59.

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

Hedge Funds Weigh In On SunOpta

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. bought a new stake in SunOpta in the 2nd quarter valued at $42,000. Ballentine Partners LLC bought a new stake in shares of SunOpta in the second quarter worth about $60,000. MQS Management LLC bought a new stake in shares of SunOpta in the second quarter worth about $63,000. NBC Securities Inc. purchased a new stake in shares of SunOpta in the fourth quarter worth about $65,000. Finally, Johnson Investment Counsel Inc. bought a new position in SunOpta during the fourth quarter valued at approximately $71,000. 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.