SunOpta (NASDAQ:STKL) Cut to “Sell” at StockNews.com

SunOpta (NASDAQ:STKL) (TSE:SOY) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

Separately, DA Davidson reiterated a “buy” rating and set a $9.00 price target on shares of SunOpta in a research report on Thursday, October 10th.

SunOpta Stock Performance

Shares of STKL traded up $0.25 during midday trading on Friday, hitting $6.80. 1,331,660 shares of the stock traded hands, compared to its average volume of 800,923. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.61 and a current ratio of 1.27. SunOpta has a 1-year low of $3.80 and a 1-year high of $7.59. The business’s 50 day moving average price is $6.23 and its two-hundred day moving average price is $5.86. The firm has a market capitalization of $812.26 million, a PE ratio of -4.89 and a beta of 1.83.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $171.00 million during the quarter, compared to analysts’ expectations of $159.95 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. SunOpta’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS. Equities research analysts predict that SunOpta will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On SunOpta

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management lifted its holdings in shares of SunOpta by 1,600.0% during the third quarter. Hollencrest Capital Management now owns 17,000 shares of the company’s stock valued at $108,000 after purchasing an additional 16,000 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of SunOpta by 127.6% in the third quarter. Harbor Capital Advisors Inc. now owns 1,063,918 shares of the company’s stock worth $6,788,000 after buying an additional 596,403 shares during the period. US Bancorp DE grew its holdings in shares of SunOpta by 139.3% during the third quarter. US Bancorp DE now owns 8,197 shares of the company’s stock valued at $52,000 after buying an additional 4,772 shares in the last quarter. First Bank & Trust raised its position in SunOpta by 7.9% during the third quarter. First Bank & Trust now owns 25,409 shares of the company’s stock valued at $162,000 after buying an additional 1,856 shares during the period. Finally, Ballentine Partners LLC lifted its stake in SunOpta by 97.7% in the 3rd quarter. Ballentine Partners LLC now owns 22,012 shares of the company’s stock worth $140,000 after acquiring an additional 10,876 shares in the last quarter. Institutional investors and hedge funds 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.