BidaskClub Lowers SunOpta (STKL) to Strong Sell

BidaskClub cut shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a strong sell rating in a report published on Thursday, BidAskClub reports.

Separately, Zacks Investment Research lowered SunOpta from a hold rating to a strong sell rating in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. SunOpta presently has a consensus rating of Hold and an average price target of $10.00.

STKL opened at $3.30 on Thursday. The company has a market cap of $288.64 million, a price-to-earnings ratio of -11.79 and a beta of 1.13. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.20 and a quick ratio of 0.38. SunOpta has a one year low of $2.21 and a one year high of $9.10.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings results on Tuesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $320.52 million for the quarter, compared to the consensus estimate of $308.00 million. SunOpta had a negative net margin of 8.66% and a negative return on equity of 7.85%. Equities research analysts forecast that SunOpta will post -0.28 EPS for the current fiscal year.

In other news, SVP Mike Buick bought 30,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $2.67 per share, with a total value of $80,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Gough bought 10,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was purchased at an average cost of $2.70 per share, with a total value of $27,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 253,202 shares of company stock valued at $728,663 in the last three months. Corporate insiders own 1.75% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Cutler Group LP raised its position in shares of SunOpta by 214.8% in the 4th quarter. Cutler Group LP now owns 13,220 shares of the company’s stock worth $51,000 after acquiring an additional 9,021 shares in the last quarter. Simplex Trading LLC bought a new position in shares of SunOpta in the 4th quarter worth approximately $45,000. Clearbridge Investments LLC raised its position in shares of SunOpta by 1.3% in the 3rd quarter. Clearbridge Investments LLC now owns 1,286,946 shares of the company’s stock worth $9,459,000 after acquiring an additional 16,876 shares in the last quarter. BlackRock Inc. raised its position in shares of SunOpta by 11.5% in the 4th quarter. BlackRock Inc. now owns 230,309 shares of the company’s stock worth $891,000 after acquiring an additional 23,666 shares in the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of SunOpta by 47.8% in the 4th quarter. GSA Capital Partners LLP now owns 77,058 shares of the company’s stock worth $298,000 after acquiring an additional 24,933 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

About SunOpta

SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, and internationally. 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.

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