SunOpta (NASDAQ:STKL) Trading 8.2% Higher – Time to Buy?

by · The Markets Daily

SunOpta Inc. (NASDAQ:STKL – Get Free Report) (TSE:SOY)’s share price shot up 8.2% during mid-day trading on Thursday . The company traded as high as $6.34 and last traded at $6.34. 206,354 shares changed hands during trading, a decline of 74% from the average session volume of 793,815 shares. The stock had previously closed at $5.86.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. DA Davidson restated a “buy” rating and set a $9.00 price target on shares of SunOpta in a research report on Thursday, October 10th. StockNews.com upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th.

Get Our Latest Stock Analysis on SunOpta

SunOpta Price Performance

The stock has a market capitalization of $763.77 million, a P/E ratio of -4.17 and a beta of 1.83. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.61 and a current ratio of 1.27. The stock has a 50-day simple moving average of $6.20 and a 200 day simple moving average of $5.85.

SunOpta (NASDAQ:STKL – Get Free Report) (TSE:SOY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.02 earnings per share 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 positive return on equity of 6.51% and a negative net margin of 23.23%. The company’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. On average, equities analysts forecast that SunOpta Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SunOpta

A number of institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its holdings in SunOpta by 127.6% during 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 last quarter. US Bancorp DE grew its position in SunOpta by 139.3% in the third quarter. US Bancorp DE now owns 8,197 shares of the company’s stock valued at $52,000 after purchasing an additional 4,772 shares in the last quarter. First Bank & Trust increased its position in shares of SunOpta by 7.9% during the 3rd quarter. First Bank & Trust now owns 25,409 shares of the company’s stock worth $162,000 after purchasing an additional 1,856 shares during the last quarter. Ballentine Partners LLC lifted its stake in SunOpta by 97.7% in the third quarter. Ballentine Partners LLC now owns 22,012 shares of the company’s stock valued at $140,000 after acquiring an additional 10,876 shares during the last quarter. Finally, Creative Planning grew its position in shares of SunOpta by 9.3% in the 3rd quarter. Creative Planning now owns 30,716 shares of the company’s stock valued at $196,000 after acquiring an additional 2,617 shares during the period. 85.39% of the stock is owned by institutional investors and hedge funds.

SunOpta Company Profile

(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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