SunOpta Inc. (STKL) Shares Down 2.3%
SunOpta Inc. (NASDAQ:STKL) shares were down 2.3% during mid-day trading on Thursday . The stock traded as low as $6.23 and last traded at $6.25, with a volume of 560,281 shares trading hands. The stock had previously closed at $6.40.
Several research analysts have recently issued reports on STKL shares. DA Davidson increased their price objective on shares of SunOpta from $7.00 to $7.50 and gave the company a “buy” rating in a report on Thursday, August 11th. Zacks Investment Research upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. TheStreet upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, AltaCorp Capital reiterated an “outperform” rating on shares of SunOpta in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $8.25.
The firm’s market capitalization is $529.94 million. The company’s 50 day moving average is $5.73 and its 200-day moving average is $5.03.
SunOpta (NASDAQ:STKL) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.02. The company had revenue of $348.10 million for the quarter, compared to analysts’ expectations of $361.55 million. The firm’s revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. On average, equities research analysts predict that SunOpta Inc. will post $0.21 EPS for the current year.
A hedge fund recently raised its stake in SunOpta stock. Jennison Associates LLC boosted its stake in shares of SunOpta Inc. (NASDAQ:STKL) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,234,596 shares of the company’s stock after buying an additional 270,963 shares during the period. Jennison Associates LLC owned 4.96% of SunOpta worth $28,965,000 at the end of the most recent 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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