SunOpta (NASDAQ:STKL) Downgraded by StockNews.com to “Sell”

SunOpta (NASDAQ:STKL) (TSE:SOY) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

SunOpta Stock Performance

Shares of NASDAQ STKL opened at $6.68 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. SunOpta has a one year low of $2.79 and a one year high of $7.59. The business’s 50-day moving average price is $5.79 and its two-hundred day moving average price is $5.94. The company has a market capitalization of $797.79 million, a P/E ratio of -4.39 and a beta of 1.82.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $171.00 million during the quarter, compared to analysts’ expectations of $159.95 million. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. Analysts anticipate that SunOpta will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. acquired a new position in SunOpta during the second quarter worth $42,000. Ballentine Partners LLC bought a new stake in shares of SunOpta during the 2nd quarter worth about $60,000. MQS Management LLC acquired a new position in shares of SunOpta during the 2nd quarter valued at about $63,000. Principal Financial Group Inc. raised its stake in shares of SunOpta by 18.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,425 shares of the company’s stock valued at $85,000 after acquiring an additional 1,917 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in SunOpta in the 2nd quarter worth approximately $90,000. Institutional investors 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.