SunOpta (NASDAQ:STKL) Raised 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 note released on Monday.

SunOpta Trading Up 0.3 %

STKL opened at $6.46 on Monday. The firm’s 50 day moving average is $6.04 and its 200-day moving average is $5.92. SunOpta has a 52-week low of $2.79 and a 52-week high of $7.59. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $770.93 million, a P/E ratio of -4.25 and a beta of 1.82.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in SunOpta during the 2nd quarter worth approximately $234,000. Granite Bay Wealth Management LLC bought a new stake in shares of SunOpta in the second quarter worth $219,000. Point72 Asset Management L.P. acquired a new stake in SunOpta in the second quarter valued at $90,000. Algert Global LLC acquired a new stake in SunOpta in the second quarter valued at $198,000. Finally, Mackenzie Financial Corp boosted its stake in SunOpta by 0.9% during the 2nd quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock valued at $1,370,000 after acquiring an additional 2,155 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

About SunOpta

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.