Zacks Investment Research upgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
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. “
Other equities research analysts have also issued research reports about the stock. BidaskClub raised shares of SunOpta from a hold rating to a buy rating in a report on Saturday, July 7th. Citigroup upped their price objective on shares of SunOpta from $9.00 to $10.00 and gave the company a buy rating in a report on Tuesday, June 19th.
Shares of SunOpta stock traded down $0.03 during trading hours on Wednesday, reaching $7.11. 332,515 shares of the company’s stock were exchanged, compared to its average volume of 296,878. SunOpta has a 1 year low of $6.27 and a 1 year high of $9.65. The firm has a market capitalization of $640.59 million, a price-to-earnings ratio of -50.79 and a beta of 1.39. The company has a quick ratio of 0.40, a current ratio of 1.23 and a debt-to-equity ratio of 0.96.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06). SunOpta had a negative net margin of 10.53% and a negative return on equity of 6.70%. The business had revenue of $319.31 million during the quarter, compared to analyst estimates of $319.10 million. On average, research analysts anticipate that SunOpta will post -0.18 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. grew its holdings in shares of SunOpta by 75.6% in the second quarter. Point72 Asset Management L.P. now owns 910,000 shares of the company’s stock valued at $7,644,000 after purchasing an additional 391,900 shares during the period. Ardsley Advisory Partners lifted its position in SunOpta by 12.3% in the second quarter. Ardsley Advisory Partners now owns 2,976,801 shares of the company’s stock valued at $25,005,000 after buying an additional 325,000 shares during the last quarter. Centaurus Financial Inc. lifted its position in SunOpta by 3.0% in the second quarter. Centaurus Financial Inc. now owns 402,310 shares of the company’s stock valued at $3,379,000 after buying an additional 11,706 shares during the last quarter. Nomura Holdings Inc. lifted its position in SunOpta by 30.0% in the second quarter. Nomura Holdings Inc. now owns 232,463 shares of the company’s stock valued at $1,953,000 after buying an additional 53,632 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in SunOpta by 22.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 161,883 shares of the company’s stock valued at $1,366,000 after buying an additional 29,600 shares during the last quarter. 79.54% of the stock is owned by hedge funds and other institutional investors.
SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, Mexico, and Ethiopia. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.
See Also: Fiduciary
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