SunOpta, Inc. (NASDAQ:STKL) Downgraded by Zacks Investment Research

SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, July 19th.

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. “

A number of other research analysts also recently weighed in on STKL. BMO Capital Markets reiterated a “buy” rating and set a $8.50 price target on shares of SunOpta in a report on Wednesday, April 26th. Citigroup Inc. lifted their price target on SunOpta from $8.00 to $11.50 and gave the company a “buy” rating in a report on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.30.

SunOpta (NASDAQ:STKL) opened at 9.60 on Wednesday. The stock’s market cap is $825.71 million. SunOpta has a 12-month low of $5.25 and a 12-month high of $10.20. The stock has a 50 day moving average of $9.76 and a 200 day moving average of $8.06.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. SunOpta had a positive return on equity of 0.58% and a negative net margin of 3.95%. The business had revenue of $330 million for the quarter, compared to the consensus estimate of $344.20 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. SunOpta’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that SunOpta will post $0.08 earnings per share for the current fiscal year.

In related news, insider Robert Duchscher purchased 5,800 shares of SunOpta stock in a transaction on Friday, May 19th. The stock was bought at an average price of $8.94 per share, with a total value of $51,852.00. Following the completion of the transaction, the insider now directly owns 5,800 shares of the company’s stock, valued at $51,852. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Oaktree Huntington Investment purchased 223,946 shares of SunOpta stock in a transaction on Friday, May 12th. The stock was bought at an average cost of $8.00 per share, with a total value of $1,791,568.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 257,246 shares of company stock valued at $2,071,020. Insiders own 1.88% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Janus Capital Management LLC boosted its position in SunOpta by 1.4% in the first quarter. Janus Capital Management LLC now owns 14,869 shares of the company’s stock valued at $103,000 after buying an additional 211 shares in the last quarter. Aperio Group LLC boosted its position in SunOpta by 0.6% in the second quarter. Aperio Group LLC now owns 52,733 shares of the company’s stock valued at $538,000 after buying an additional 313 shares in the last quarter. Ironwood Investment Management LLC boosted its position in SunOpta by 0.6% in the first quarter. Ironwood Investment Management LLC now owns 134,354 shares of the company’s stock valued at $934,000 after buying an additional 739 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in SunOpta by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 207,764 shares of the company’s stock valued at $1,465,000 after buying an additional 2,097 shares in the last quarter. Finally, Hollencrest Securities LLC boosted its position in SunOpta by 14.3% in the second quarter. Hollencrest Securities LLC now owns 24,000 shares of the company’s stock valued at $245,000 after buying an additional 3,000 shares in the last quarter. 86.66% of the stock is owned by institutional investors and hedge funds.

SunOpta Company Profile

Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.

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