SunOpta (STKL) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a strong sell rating in a report released on Thursday morning, BidAskClub reports.

Separately, Zacks Investment Research raised SunOpta from a sell rating to a hold rating in a research note on Saturday, January 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. SunOpta presently has an average rating of Hold and a consensus price target of $10.00.

NASDAQ STKL opened at $3.30 on Thursday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.38 and a current ratio of 1.20. SunOpta has a 52 week low of $2.21 and a 52 week high of $9.10. The stock has a market capitalization of $288.64 million, a PE ratio of -11.79 and a beta of 1.13.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings data on Tuesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SunOpta had a negative return on equity of 7.85% and a negative net margin of 8.66%. The company had revenue of $320.52 million during the quarter, compared to the consensus estimate of $308.00 million. On average, equities analysts predict that SunOpta will post -0.28 EPS for the current fiscal year.

In other SunOpta news, Director Richard Dean Hollis bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were bought at an average price of $2.68 per share, with a total value of $268,000.00. Following the purchase, the director now owns 230,035 shares of the company’s stock, valued at $616,493.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Gough bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were acquired at an average cost of $2.70 per share, for a total transaction of $27,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 253,202 shares of company stock worth $728,663 in the last three months. 1.75% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Simplex Trading LLC bought a new stake in SunOpta during the 4th quarter valued at approximately $45,000. Cutler Group LP raised its stake in SunOpta by 214.8% during the 4th quarter. Cutler Group LP now owns 13,220 shares of the company’s stock valued at $51,000 after purchasing an additional 9,021 shares during the period. Hollencrest Capital Management bought a new stake in SunOpta during the 1st quarter valued at approximately $87,000. Squarepoint Ops LLC bought a new stake in SunOpta during the 4th quarter valued at approximately $106,000. Finally, Millennium Management LLC bought a new stake in SunOpta during the 4th quarter valued at approximately $117,000. 81.53% of the stock is currently owned by institutional investors.

About SunOpta

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