SunOpta Inc. (STKL) Stock Price Up 5.6%
SunOpta Inc. (NASDAQ:STKL) rose 5.6% during mid-day trading on Wednesday . The company 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.
STKL has been the subject of a number of analyst reports. AltaCorp Capital reiterated an “outperform” rating on shares of SunOpta in a research note on Tuesday, June 21st. DA Davidson upgraded SunOpta from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Wednesday, April 13th. Canaccord Genuity reiterated a “buy” rating and issued a $10.00 price target on shares of SunOpta in a research note on Wednesday, April 13th. Finally, Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $9.50.
The company’s 50-day moving average price is $4.35 and its 200 day moving average price is $5.13. The firm’s market capitalization is $408.73 million.
SunOpta (NASDAQ:STKL) last posted its earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $352.30 million for the quarter, compared to the consensus estimate of $351.60 million. SunOpta’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS. On average, analysts expect that SunOpta Inc. will post $0.24 earnings per share for the current year.
In other news, CEO Hendrik Jacobs acquired 7,000 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was acquired at an average price of $3.85 per share, for a total transaction of $26,950.00. Following the completion of the transaction, the chief executive officer now owns 41,638 shares in the company, valued at approximately $160,306.30. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas Greene acquired 50,000 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was purchased at an average price of $3.77 per share, with a total value of $188,500.00. Following the transaction, the director now owns 265,543 shares of the company’s stock, valued at approximately $1,001,097.11. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors have recently modified their holdings of STKL. 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 during the period. 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 during the period. Finally, Baker Chad R purchased a new position in shares of SunOpta during the fourth quarter worth $2,977,000.
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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