SunOpta (NASDAQ:STKL) Cut to Sell at StockNews.com

StockNews.com lowered shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a hold rating to a sell rating in a research note published on Thursday.

SunOpta Price Performance

NASDAQ:STKL opened at $6.67 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. SunOpta has a 52 week low of $2.79 and a 52 week high of $7.59. The stock’s 50-day moving average price is $5.84 and its 200-day moving average price is $5.93. The stock has a market capitalization of $795.99 million, a PE ratio of -4.39 and a beta of 1.82.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of STKL. Cubist Systematic Strategies LLC purchased a new stake in shares of SunOpta during the second quarter worth approximately $234,000. Granite Bay Wealth Management LLC purchased a new stake in shares of SunOpta during the second quarter worth $219,000. Point72 Asset Management L.P. acquired a new stake in shares of SunOpta in the second quarter valued at about $90,000. Algert Global LLC purchased a new position in shares of SunOpta in the second quarter worth about $198,000. Finally, Mackenzie Financial Corp boosted its position in SunOpta by 0.9% during the second quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock worth $1,370,000 after acquiring an additional 2,155 shares during the last quarter. 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.