SunOpta’s (STKL) “Buy” Rating Reiterated at DA Davidson

SunOpta (NASDAQ:STKL) (TSE:SOY)‘s stock had its “buy” rating reissued by equities research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They presently have a $8.00 target price on the stock. DA Davidson’s price objective would indicate a potential upside of 24.90% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of SunOpta in a research report on Monday, December 29th. William Blair downgraded SunOpta from a “strong-buy” rating to a “hold” rating in a research note on Friday. Finally, Mizuho cut their price objective on SunOpta from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

SunOpta Stock Up 0.1%

Shares of STKL stock traded up $0.01 on Monday, hitting $6.41. 4,459,283 shares of the stock were exchanged, compared to its average volume of 3,365,448. The firm has a market capitalization of $773.66 million, a P/E ratio of 33.68 and a beta of 1.13. SunOpta has a fifty-two week low of $3.32 and a fifty-two week high of $7.68. The business has a 50-day moving average of $4.16 and a 200 day moving average of $5.08. The company has a current ratio of 0.98, a quick ratio of 0.37 and a debt-to-equity ratio of 1.34.

Insider Activity

In related news, CFO Greg Gaba purchased 15,000 shares of SunOpta stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average price of $3.39 per share, with a total value of $50,850.00. Following the completion of the transaction, the chief financial officer directly owned 110,970 shares of the company’s stock, valued at $376,188.30. This represents a 15.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Trading of SunOpta

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SunOpta by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,001 shares of the company’s stock valued at $272,000 after purchasing an additional 2,424 shares during the last quarter. Jane Street Group LLC grew its holdings in SunOpta by 607.5% during the 1st quarter. Jane Street Group LLC now owns 281,976 shares of the company’s stock worth $1,370,000 after acquiring an additional 242,121 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of SunOpta during the 2nd quarter valued at $388,000. NorthRock Partners LLC bought a new position in shares of SunOpta during the 2nd quarter worth about $90,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of SunOpta during the second quarter worth approximately $1,417,000. 85.39% of the stock is owned by institutional investors and hedge funds.

About SunOpta

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.