SunOpta Inc. (STKL) Trading 5.7% Higher
SunOpta Inc. (NASDAQ:STKL) shares traded up 5.7% during trading on Tuesday . The company traded as high as $5.69 and last traded at $5.54, with a volume of 731,287 shares trading hands. The stock had previously closed at $5.24.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. DA Davidson upgraded shares of SunOpta from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Wednesday, April 13th. Canaccord Genuity reiterated a “buy” rating and set a $10.00 price target on shares of SunOpta in a research report on Wednesday, April 13th. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. SunOpta presently has a consensus rating of “Hold” and an average target price of $9.50.
The company’s market capitalization is $456.62 million. The firm’s 50 day moving average price is $4.71 and its 200-day moving average price is $4.99.
SunOpta (NASDAQ:STKL) last released its earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by $0.01. The firm earned $352.30 million during the quarter, compared to analyst estimates of $351.60 million. SunOpta’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. On average, equities research analysts forecast that SunOpta Inc. will post $0.24 EPS for the current year.
In other news, Director Douglas Greene bought 50,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The shares were acquired at an average price of $3.77 per share, for a total transaction of $188,500.00. Following the completion of the transaction, the director now directly owns 265,543 shares in the company, valued at approximately $1,001,097.11. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hendrik Jacobs bought 7,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was purchased at an average price of $3.85 per share, for a total transaction of $26,950.00. Following the transaction, the chief executive officer now owns 41,638 shares of the company’s stock, valued at $160,306.30. The disclosure for this purchase can be found here.
Several institutional investors have recently added to or reduced their stakes in STKL. Dimensional Fund Advisors LP increased its position in SunOpta by 56.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 151,928 shares of the company’s stock valued at $1,039,000 after buying an additional 54,539 shares during the period. Jennison Associates LLC increased its position in SunOpta by 6.8% in the fourth quarter. Jennison Associates LLC now owns 4,234,596 shares of the company’s stock valued at $28,965,000 after buying an additional 270,963 shares during the period. Baker Chad R purchased a new position in SunOpta during the fourth quarter valued at $2,977,000. Finally, Morgan Stanley increased its position in SunOpta by 123,646.6% in the fourth quarter. Morgan Stanley now owns 6,693,454 shares of the company’s stock valued at $45,783,000 after buying an additional 6,688,045 shares during the period.
SunOpta Inc operates businesses focused on a healthy products portfolio. The Company operates through two segments: Global Ingredients and Consumer Products. Its Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains and seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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