SunOpta (STKL) Upgraded to Hold by Zacks Investment Research

SunOpta (NASDAQ:STKL) (TSE:SOY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Opta Minerals Group, a producer, distributor, and recycler of environmentally friendly industrial materials; and the SunOpta BioProcess Group which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector. “

Other equities analysts also recently issued research reports about the company. BidaskClub downgraded SunOpta from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 8th. ValuEngine upgraded SunOpta from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, TheStreet cut shares of SunOpta from a “c-” rating to a “d+” rating in a report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.00.

STKL traded down $0.02 during midday trading on Friday, hitting $4.23. 146,083 shares of the company were exchanged, compared to its average volume of 377,633. The company has a market capitalization of $359.98 million, a PE ratio of -30.21 and a beta of 1.24. SunOpta has a 1-year low of $3.61 and a 1-year high of $9.10. The company has a current ratio of 1.23, a quick ratio of 0.38 and a debt-to-equity ratio of 0.98.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). SunOpta had a negative return on equity of 7.59% and a negative net margin of 10.52%. The company had revenue of $308.37 million for the quarter, compared to the consensus estimate of $317.80 million. Equities research analysts predict that SunOpta will post -0.26 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC increased its stake in shares of SunOpta by 1.3% during the third quarter. Clearbridge Investments LLC now owns 1,286,946 shares of the company’s stock valued at $9,459,000 after purchasing an additional 16,876 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of SunOpta by 65.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,507,048 shares of the company’s stock worth $11,077,000 after acquiring an additional 597,048 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of SunOpta by 222.4% during the 3rd quarter. Renaissance Technologies LLC now owns 256,430 shares of the company’s stock worth $1,885,000 after acquiring an additional 176,900 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of SunOpta by 48.8% during the 3rd quarter. Citadel Advisors LLC now owns 160,715 shares of the company’s stock worth $1,181,000 after acquiring an additional 52,711 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of SunOpta by 3.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,047,256 shares of the company’s stock worth $7,697,000 after acquiring an additional 30,150 shares during the last quarter. Institutional investors and hedge funds own 79.72% of the company’s stock.

SunOpta Company Profile

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