SunOpta (NASDAQ:STKL) Rating Reiterated by DA Davidson

by · The Cerbat Gem

DA Davidson restated their buy rating on shares of SunOpta (NASDAQ:STKL – Free Report) (TSE:SOY) in a research report report published on Thursday, Benzinga reports. DA Davidson currently has a $9.00 price objective on the stock.

Separately, StockNews.com upgraded SunOpta from a sell rating to a hold rating in a research report on Thursday.

Read Our Latest Analysis on SunOpta

SunOpta Trading Up 2.3 %

Shares of NASDAQ:STKL opened at $6.36 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. SunOpta has a 1-year low of $2.79 and a 1-year high of $7.59. The business’s 50 day moving average is $6.13 and its 200-day moving average is $5.90.

SunOpta (NASDAQ:STKL – Get Free Report) (TSE:SOY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. The firm had revenue of $171.00 million during the quarter, compared to analysts’ expectations of $159.95 million. During the same quarter last year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that SunOpta will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On SunOpta

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Granahan Investment Management LLC grew its holdings in shares of SunOpta by 1,291.2% during the fourth quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock worth $13,094,000 after purchasing an additional 2,221,718 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in SunOpta by 321.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 467,515 shares of the company’s stock valued at $2,525,000 after acquiring an additional 356,700 shares in the last quarter. Blair William & Co. IL increased its position in SunOpta by 77.0% in the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock valued at $13,543,000 after acquiring an additional 857,603 shares in the last quarter. Hodges Capital Management Inc. raised its stake in shares of SunOpta by 11.2% in the second quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock worth $17,273,000 after acquiring an additional 323,397 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of SunOpta by 7.5% during the first quarter. Vanguard Group Inc. now owns 642,505 shares of the company’s stock worth $4,414,000 after purchasing an additional 44,905 shares in the last quarter. 85.39% of the stock is owned by institutional investors and hedge funds.

About SunOpta

(Get Free Report)

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.

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