SunOpta Inc. (STKL) Trading 5.6% Higher
SunOpta Inc. (NASDAQ:STKL) shares traded up 5.6% during mid-day trading on Wednesday . The stock traded as high as $4.51 and last traded at $4.51, with a volume of 102,415 shares. The stock had previously closed at $4.27.
Several research analysts have recently issued reports on the company. AltaCorp Capital restated an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. DA Davidson upgraded 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. Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Finally, Canaccord Genuity restated a “buy” rating and issued a $10.00 price target on shares of SunOpta in a research report on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. SunOpta presently has an average rating of “Buy” and a consensus target price of $9.50.
The stock’s market cap is $393.34 million. The stock’s 50 day moving average is $4.31 and its 200-day moving average is $5.13.
SunOpta (NASDAQ:STKL) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. The firm had revenue of $352.30 million for the quarter, compared to the consensus estimate of $351.60 million. During the same period in the previous year, the business earned $0.08 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that SunOpta Inc. will post $0.24 earnings per share for the current fiscal year.
In related news, Director Douglas Greene purchased 50,000 shares of the stock in a transaction dated Friday, May 20th. The stock was bought at an average cost of $3.77 per share, for a total transaction of $188,500.00. Following the completion of the acquisition, the director now owns 265,543 shares of the company’s stock, valued at $1,001,097.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hendrik Jacobs purchased 7,000 shares of the stock in a transaction dated Friday, May 20th. The shares were bought at an average price of $3.85 per share, with a total value of $26,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 41,638 shares of the company’s stock, valued at approximately $160,306.30. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently made changes to their positions in STKL. Baker Chad R bought a new position in shares of SunOpta during the fourth quarter valued at about $2,977,000. Jennison Associates LLC boosted its stake 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 valued at $28,965,000 after buying an additional 270,963 shares in the last quarter. Finally, Morgan Stanley boosted its stake 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 valued at $45,783,000 after buying an additional 6,688,045 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.