SunOpta Inc. (NASDAQ:STKL) Given Consensus Rating of “Buy” by Analysts

Shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) have been assigned a consensus recommendation of “Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $9.40.

Several research analysts have recently issued reports on STKL shares. BMO Capital Markets upped their price objective on SunOpta from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Canaccord Genuity Group upped their price objective on SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, DA Davidson upped their price objective on SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th.

SunOpta Stock Performance

Shares of NASDAQ STKL opened at $6.55 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.19 and a quick ratio of 0.65. SunOpta has a 12 month low of $2.79 and a 12 month high of $8.56. The stock has a 50-day moving average price of $6.47 and a two-hundred day moving average price of $5.50.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. The firm had revenue of $181.62 million during the quarter, compared to the consensus estimate of $165.10 million. As a group, equities research analysts expect that SunOpta will post 0.14 EPS for the current year.

Insider Buying and Selling

In other news, CEO Brian W. Kocher bought 36,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the acquisition, the chief executive officer now directly owns 36,000 shares in the company, valued at $243,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph Ennen sold 150,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the transaction, the insider now directly owns 1,743,399 shares of the company’s stock, valued at $12,012,019.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian W. Kocher purchased 36,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the acquisition, the chief executive officer now owns 36,000 shares of the company’s stock, valued at approximately $243,000. The disclosure for this purchase can be found here. 6.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STKL. Portside Wealth Group LLC purchased a new position in SunOpta during the second quarter worth about $100,000. Granite Bay Wealth Management LLC purchased a new position in SunOpta in the third quarter valued at about $255,000. SG Americas Securities LLC purchased a new position in SunOpta in the third quarter valued at about $922,000. Wealth Effects LLC boosted its stake in SunOpta by 12.0% in the third quarter. Wealth Effects LLC now owns 77,350 shares of the company’s stock valued at $261,000 after acquiring an additional 8,260 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in SunOpta by 306.5% in the third quarter. Peregrine Capital Management LLC now owns 940,535 shares of the company’s stock valued at $3,170,000 after acquiring an additional 709,158 shares during the last quarter. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

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.