SunOpta (NASDAQ:STKL) Lifted to Hold at StockNews.com

SunOpta (NASDAQ:STKL) (TSE:SOY) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

SunOpta Stock Down 2.1 %

Shares of SunOpta stock traded down $0.14 on Monday, hitting $6.38. 570,711 shares of the company traded hands, compared to its average volume of 813,536. SunOpta has a 12-month low of $2.79 and a 12-month high of $7.59. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. The company has a market cap of $761.38 million, a PE ratio of -4.20 and a beta of 1.82. The company has a 50-day moving average price of $5.97 and a 200 day moving average price of $5.93.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $171.00 million during the quarter, compared to the consensus estimate of $159.95 million. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The business’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period last year, the business earned ($0.03) EPS. Sell-side analysts predict that SunOpta will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Granahan Investment Management LLC boosted its holdings in SunOpta by 1,291.2% in the fourth quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock worth $13,094,000 after purchasing an additional 2,221,718 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of SunOpta by 321.9% in the second quarter. Harbor Capital Advisors Inc. now owns 467,515 shares of the company’s stock worth $2,525,000 after buying an additional 356,700 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of SunOpta by 77.0% during the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock worth $13,543,000 after acquiring an additional 857,603 shares in the last quarter. Hodges Capital Management Inc. increased its holdings in shares of SunOpta by 11.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock valued at $17,273,000 after acquiring an additional 323,397 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of SunOpta by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 642,505 shares of the company’s stock valued at $4,414,000 after acquiring an additional 44,905 shares in the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.