SunOpta (NASDAQ:STKL) Earns Buy Rating from DA Davidson

SunOpta (NASDAQ:STKL) (TSE:SOY)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $8.00 price objective on the stock. DA Davidson’s target price would suggest a potential upside of 24.90% from the stock’s current price.

Several other analysts also recently issued reports on STKL. William Blair downgraded SunOpta from a “strong-buy” rating to a “hold” rating in a research report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of SunOpta in a research report on Monday, December 29th. Finally, Mizuho lowered their target price on SunOpta from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.00.

SunOpta Stock Performance

STKL stock traded up $0.01 on Monday, hitting $6.41. The company’s stock had a trading volume of 4,459,283 shares, compared to its average volume of 3,365,448. SunOpta has a 1 year low of $3.32 and a 1 year high of $7.68. The company has a current ratio of 0.98, a quick ratio of 0.37 and a debt-to-equity ratio of 1.34. The stock has a market cap of $773.66 million, a price-to-earnings ratio of 33.68 and a beta of 1.13. The firm has a 50 day moving average of $4.16 and a two-hundred day moving average of $5.08.

Insider Activity at SunOpta

In related news, CFO Greg Gaba acquired 15,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were bought at an average price of $3.39 per share, for a total transaction of $50,850.00. Following the acquisition, the chief financial officer owned 110,970 shares in the company, valued at $376,188.30. This trade represents a 15.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SunOpta

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in shares of SunOpta in the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC boosted its position in shares of SunOpta by 764.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,502 shares of the company’s stock worth $26,000 after purchasing an additional 3,981 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of SunOpta in the 4th quarter valued at $33,000. Swiss Life Asset Management Ltd bought a new stake in shares of SunOpta in the 4th quarter valued at $40,000. Finally, BNP Paribas Financial Markets lifted its holdings in SunOpta by 65.5% during the second quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock worth $54,000 after acquiring an additional 3,669 shares in the last quarter. Institutional investors own 85.39% of the company’s stock.

SunOpta Company Profile

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.