SunOpta (NASDAQ:STKL – Get Free Report) TSE: SOY was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
SunOpta Stock Up 1.8 %
Shares of STKL traded up $0.11 during mid-day trading on Monday, hitting $6.21. The company’s stock had a trading volume of 376,548 shares, compared to its average volume of 783,321. The company’s 50-day moving average is $5.54 and its 200-day moving average is $5.93. SunOpta has a 52-week low of $2.79 and a 52-week high of $7.59. The firm has a market capitalization of $741.10 million, a price-to-earnings ratio of -4.09 and a beta of 1.85. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 1.67.
SunOpta (NASDAQ:STKL – Get Free Report) TSE: SOY last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. The firm had revenue of $171.00 million during the quarter, compared to analysts’ expectations of $159.95 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The company’s revenue was down 17.7% compared to the same quarter last year. On average, equities research analysts forecast that SunOpta will post 0.14 EPS for the current fiscal year.
Institutional Investors Weigh In On SunOpta
Hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new stake in shares of SunOpta in the 2nd quarter worth approximately $42,000. Ballentine Partners LLC bought a new position in shares of SunOpta during the 2nd quarter worth approximately $60,000. MQS Management LLC bought a new position in shares of SunOpta during the 2nd quarter worth approximately $63,000. NBC Securities Inc. bought a new position in shares of SunOpta during the 4th quarter worth approximately $65,000. Finally, Johnson Investment Counsel Inc. bought a new position in shares of SunOpta during the 4th quarter worth approximately $71,000. Hedge funds and other 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.