SunOpta, Inc. (STKL) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) from a hold rating to a buy rating in a report issued on Saturday, July 22nd. They currently have $11.00 price objective on the stock.

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 issued reports on the stock. Citigroup Inc. raised their price target on shares of SunOpta from $8.00 to $11.50 and gave the stock a buy rating in a research report on Wednesday, May 31st. BMO Capital Markets restated a buy rating and issued a $8.50 price target on shares of SunOpta in a research report on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $9.30.

Shares of SunOpta (STKL) opened at 9.50 on Friday. SunOpta has a 52-week low of $5.35 and a 52-week high of $10.20. The stock’s 50 day moving average is $9.75 and its 200 day moving average is $8.09. The stock’s market capitalization is $817.10 million.

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

In related news, insider Jeffrey Gough purchased 15,000 shares of SunOpta stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $8.49 per share, for a total transaction of $127,350.00. Following the transaction, the insider now directly owns 6,600 shares in the company, valued at $56,034. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Duchscher purchased 5,800 shares of the stock in a transaction dated Friday, May 19th. The stock was bought at an average cost of $8.94 per share, with a total value of $51,852.00. Following the completion of the purchase, the insider now owns 5,800 shares in the company, valued at $51,852. The disclosure for this purchase can be found here. Insiders acquired 257,246 shares of company stock valued at $2,071,020 over the last quarter. Corporate insiders own 1.88% of the company’s stock.

Several institutional investors have recently modified their holdings of STKL. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of SunOpta during the second quarter valued at $6,028,000. Essex Investment Management Co. LLC increased its stake in SunOpta by 27.6% in the second quarter. Essex Investment Management Co. LLC now owns 266,503 shares of the company’s stock valued at $2,718,000 after buying an additional 57,622 shares during the last quarter. Spark Investment Management LLC bought a new stake in SunOpta during the second quarter valued at approximately $162,000. Aperio Group LLC increased its stake in shares of 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. Finally, Hollencrest Securities LLC increased its stake in shares of 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.

About SunOpta

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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