SunOpta Inc. (STKL) Trading 1.9% Higher
Shares of SunOpta Inc. (NASDAQ:STKL) traded up 1.9% during trading on Wednesday . The stock traded as high as $6.18 and last traded at $5.84, with a volume of 1,086,103 shares. The stock had previously closed at $5.73.
Several analysts have commented on the stock. TheStreet upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. DA Davidson upgraded shares of SunOpta from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, April 13th. Canaccord Genuity restated a “buy” rating and issued a $10.00 price objective on shares of SunOpta in a report on Wednesday, April 13th. Finally, AltaCorp Capital restated an “outperform” rating on shares of SunOpta in a report on Tuesday, June 21st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. SunOpta presently has a consensus rating of “Buy” and an average price target of $9.50.
The firm’s market capitalization is $512.20 million. The stock’s 50-day moving average is $5.00 and its 200-day moving average is $4.95.
SunOpta (NASDAQ:STKL) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by $0.02. During the same quarter last year, the firm earned $0.08 EPS. The company had revenue of $348.10 million for the quarter, compared to the consensus estimate of $361.55 million. The company’s revenue was up 25.4% compared to the same quarter last year. Equities research analysts predict that SunOpta Inc. will post $0.23 EPS for the current fiscal year.
In other news, CEO Hendrik Jacobs purchased 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average cost of $3.85 per share, for a total transaction of $26,950.00. Following the acquisition, the chief executive officer now owns 41,638 shares of the company’s stock, valued at approximately $160,306.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas Greene purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were purchased at an average price of $3.77 per share, for a total transaction of $188,500.00. Following the completion of the acquisition, the director now directly owns 265,543 shares in the company, valued at approximately $1,001,097.11. The disclosure for this purchase can be found here.
Other institutional investors recently modified their holdings of the company. Morgan Stanley increased its position in shares of SunOpta by 123,646.6% in the fourth quarter. Morgan Stanley now owns 6,693,454 shares of the company’s stock worth $45,783,000 after buying an additional 6,688,045 shares in the last quarter. Jennison Associates LLC increased its position in shares of SunOpta by 6.8% in the fourth quarter. Jennison Associates LLC now owns 4,234,596 shares of the company’s stock worth $28,965,000 after buying an additional 270,963 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of SunOpta by 56.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 151,928 shares of the company’s stock worth $1,039,000 after buying an additional 54,539 shares in the last quarter.
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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