SunOpta (NASDAQ:STKL) Reaches New 52-Week High – Time to Buy?

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) shares reached a new 52-week high during trading on Friday . The company traded as high as $7.81 and last traded at $7.77, with a volume of 70169 shares traded. The stock had previously closed at $7.70.

Analyst Ratings Changes

Several research firms have recently weighed in on STKL. StockNews.com upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Stephens raised their target price on shares of SunOpta from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $9.00 price target on shares of SunOpta in a report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, SunOpta presently has an average rating of “Moderate Buy” and an average price target of $9.50.

SunOpta Price Performance

The stock has a market capitalization of $934.26 million, a PE ratio of -43.44 and a beta of 1.83. The company has a quick ratio of 0.53, a current ratio of 1.20 and a debt-to-equity ratio of 1.61. The stock’s 50-day moving average is $6.64 and its 200 day moving average is $5.99.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. The firm had revenue of $176.22 million during the quarter, compared to analysts’ expectations of $172.30 million. As a group, equities analysts predict that SunOpta Inc. will post 0.13 earnings per share for the current year.

Insider Activity at SunOpta

In related news, Director Rebecca Fisher sold 13,142 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $7.58, for a total transaction of $99,616.36. Following the completion of the sale, the director now directly owns 108,500 shares of the company’s stock, valued at approximately $822,430. This represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Duchscher sold 50,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.33, for a total transaction of $366,500.00. Following the completion of the transaction, the insider now owns 42,971 shares in the company, valued at $314,977.43. The trade was a 53.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.48% of the stock is owned by company insiders.

Institutional Trading of SunOpta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its position in SunOpta by 16.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 5,504,837 shares of the company’s stock worth $35,122,000 after purchasing an additional 782,338 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of SunOpta by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,064,115 shares of the company’s stock valued at $27,346,000 after buying an additional 56,560 shares during the period. Hodges Capital Management Inc. grew its position in SunOpta by 12.7% during the third quarter. Hodges Capital Management Inc. now owns 3,604,629 shares of the company’s stock worth $22,998,000 after buying an additional 406,005 shares in the last quarter. Geode Capital Management LLC increased its stake in SunOpta by 80.9% during the third quarter. Geode Capital Management LLC now owns 2,127,890 shares of the company’s stock valued at $13,579,000 after acquiring an additional 951,462 shares during the period. Finally, State Street Corp increased its stake in SunOpta by 18.9% during the third quarter. State Street Corp now owns 1,827,273 shares of the company’s stock valued at $11,658,000 after acquiring an additional 290,372 shares during the period. 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.