SunOpta (NASDAQ:STKL) Receives “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of SunOpta (NASDAQ:STKL) (TSE:SOY) in a research note released on Thursday, Benzinga reports. They currently have a $9.00 price target on the stock.

Separately, StockNews.com raised shares of SunOpta from a sell rating to a hold rating in a report on Thursday.

SunOpta Stock Up 0.9 %

Shares of NASDAQ STKL opened at $6.42 on Thursday. SunOpta has a 52-week low of $2.79 and a 52-week high of $7.59. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. The company’s 50-day simple moving average is $6.18 and its 200-day simple moving average is $5.90. The firm has a market cap of $766.16 million, a price-to-earnings ratio of -4.22 and a beta of 1.83.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $171.00 million during the quarter, compared to analysts’ expectations 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 revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. Equities analysts predict that SunOpta will post 0.14 EPS for the current fiscal year.

Institutional Trading of SunOpta

Large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in shares of SunOpta by 9.3% during the 3rd quarter. Creative Planning now owns 30,716 shares of the company’s stock worth $196,000 after buying an additional 2,617 shares during the last quarter. Tealwood Asset Management Inc. acquired a new position in shares of SunOpta in the 3rd quarter valued at $80,000. SG Americas Securities LLC purchased a new position in shares of SunOpta during the 3rd quarter worth $6,394,000. Cubist Systematic Strategies LLC acquired a new stake in shares of SunOpta during the 2nd quarter worth about $234,000. Finally, Granite Bay Wealth Management LLC acquired a new position in SunOpta in the second quarter valued at about $219,000. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

SunOpta Company Profile

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.