SunOpta (NASDAQ:STKL) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a hold rating in a research report report published on Tuesday morning.

SunOpta Stock Down 0.2 %

STKL opened at $5.61 on Tuesday. SunOpta has a 12 month low of $2.79 and a 12 month high of $7.59. The business has a 50-day moving average of $5.61 and a two-hundred day moving average of $5.91. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. The stock has a market capitalization of $670.00 million, a price-to-earnings ratio of -3.69 and a beta of 1.82.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $171.00 million during the quarter, compared to the consensus estimate of $159.95 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. SunOpta’s revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. On average, research analysts expect that SunOpta will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC purchased a new position in shares of SunOpta in the 2nd quarter worth about $219,000. Point72 Asset Management L.P. purchased a new position in SunOpta in the second quarter valued at approximately $90,000. Algert Global LLC acquired a new position in SunOpta during the second quarter valued at approximately $198,000. Mackenzie Financial Corp lifted its position in SunOpta by 0.9% during the second quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock valued at $1,370,000 after buying an additional 2,155 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in SunOpta by 10.5% during the second quarter. The Manufacturers Life Insurance Company now owns 36,958 shares of the company’s stock worth $200,000 after buying an additional 3,521 shares during the period. Institutional investors and hedge funds own 85.39% of the company’s stock.

SunOpta Company Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.