SunOpta (STKL) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a strong sell rating in a research report report published on Thursday.

Several other analysts have also recently weighed in on STKL. Zacks Investment Research cut shares of SunOpta from a hold rating to a sell rating in a report on Tuesday, August 14th. ValuEngine raised shares of SunOpta from a hold rating to a buy rating in a report on Wednesday, October 24th.

NASDAQ:STKL traded down $0.21 during mid-day trading on Thursday, hitting $5.24. The stock had a trading volume of 832,636 shares, compared to its average volume of 322,810. The stock has a market cap of $597.01 million, a price-to-earnings ratio of -37.43 and a beta of 1.17. SunOpta has a twelve month low of $5.00 and a twelve month high of $9.10. The company has a quick ratio of 0.40, a current ratio of 1.23 and a debt-to-equity ratio of 0.96.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its earnings results on Wednesday, November 7th. The company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $308.37 million for the quarter, compared to analysts’ expectations of $317.80 million. SunOpta had a negative net margin of 10.53% and a negative return on equity of 6.70%. On average, equities analysts anticipate that SunOpta will post -0.18 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in STKL. Overbrook Management Corp raised its holdings in SunOpta by 103.6% during the second quarter. Overbrook Management Corp now owns 2,238,273 shares of the company’s stock worth $18,801,000 after purchasing an additional 1,138,822 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in SunOpta by 71.4% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,508,545 shares of the company’s stock worth $11,088,000 after purchasing an additional 628,372 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in SunOpta by 75.6% during the second quarter. Point72 Asset Management L.P. now owns 910,000 shares of the company’s stock worth $7,644,000 after purchasing an additional 391,900 shares in the last quarter. Ardsley Advisory Partners raised its holdings in SunOpta by 12.3% during the second quarter. Ardsley Advisory Partners now owns 2,976,801 shares of the company’s stock worth $25,005,000 after purchasing an additional 325,000 shares in the last quarter. Finally, FMR LLC raised its holdings in SunOpta by 9.9% during the third quarter. FMR LLC now owns 3,583,533 shares of the company’s stock worth $26,339,000 after purchasing an additional 323,483 shares in the last quarter. 79.35% 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, 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.

Recommended Story: Risk Tolerance and Your Investment Decisions

Receive News & Ratings for SunOpta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunOpta and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply