SunOpta (NASDAQ:STKL) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a hold rating to a sell rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Opta Minerals Group, a producer, distributor, and recycler of environmentally friendly industrial materials; and the SunOpta BioProcess Group which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector. “

Several other equities research analysts also recently issued reports on the company. ValuEngine upgraded SunOpta from a sell rating to a hold rating in a research report on Friday, August 2nd. BidaskClub downgraded SunOpta from a sell rating to a strong sell rating in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. SunOpta has an average rating of Hold and a consensus target price of $3.00.

Shares of NASDAQ STKL opened at $2.20 on Tuesday. The stock has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $3.52. SunOpta has a 1-year low of $1.98 and a 1-year high of $8.38. The firm has a market cap of $182.53 million, a price-to-earnings ratio of -7.86 and a beta of 0.72. The company has a current ratio of 1.23, a quick ratio of 0.43 and a debt-to-equity ratio of 1.94.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). SunOpta had a negative net margin of 6.93% and a negative return on equity of 14.49%. The firm had revenue of $293.00 million for the quarter, compared to the consensus estimate of $302.40 million. Analysts forecast that SunOpta will post -0.39 EPS for the current year.

In related news, CEO Joseph Ennen bought 100,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $2.25 per share, for a total transaction of $225,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Dean Hollis bought 75,360 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $2.08 per share, for a total transaction of $156,748.80. Following the transaction, the director now owns 334,279 shares of the company’s stock, valued at $695,300.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 265,360 shares of company stock worth $763,549. Company insiders own 1.75% of the company’s stock.

Large investors have recently bought and sold shares of the business. Ardsley Advisory Partners LP raised its position in shares of SunOpta by 16.5% in the second quarter. Ardsley Advisory Partners LP now owns 8,425,138 shares of the company’s stock worth $27,719,000 after buying an additional 1,193,708 shares in the last quarter. FMR LLC raised its position in shares of SunOpta by 5.4% in the first quarter. FMR LLC now owns 3,638,784 shares of the company’s stock worth $12,590,000 after buying an additional 186,718 shares in the last quarter. Kennedy Capital Management Inc. raised its position in shares of SunOpta by 42.7% in the first quarter. Kennedy Capital Management Inc. now owns 2,360,142 shares of the company’s stock worth $8,166,000 after buying an additional 705,865 shares in the last quarter. Royce & Associates LP raised its position in shares of SunOpta by 21.2% in the first quarter. Royce & Associates LP now owns 1,810,141 shares of the company’s stock worth $6,263,000 after buying an additional 316,334 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of SunOpta by 232.8% in the second quarter. Renaissance Technologies LLC now owns 496,500 shares of the company’s stock worth $1,633,000 after buying an additional 347,300 shares in the last quarter. Hedge funds and other institutional investors own 76.68% of the company’s stock.

About SunOpta

SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, and internationally. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.

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