SunOpta (NASDAQ:STKL) Reaches New 12-Month High – Here’s What Happened

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

Analyst Ratings Changes

A number of brokerages recently issued reports on STKL. DA Davidson reiterated a “buy” rating and set a $9.00 target price on shares of SunOpta in a research report on Thursday, October 10th. StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Stephens lifted their target price on shares of SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

SunOpta Stock Up 1.6 %

The firm has a 50 day moving average price of $6.64 and a 200-day moving average price of $5.99. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.20 and a quick ratio of 0.53. The firm has a market cap of $934.26 million, a price-to-earnings ratio of -43.44 and a beta of 1.83.

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

Insider Activity

In related news, Director Rebecca Fisher sold 13,142 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 108,500 shares in the company, valued at approximately $822,430. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Duchscher sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 42,971 shares of the company’s stock, valued at $314,977.43. The trade was a 53.78 % decrease in their position. The disclosure for this sale can be found here. 6.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STKL. Hantz Financial Services Inc. acquired a new stake in shares of SunOpta during the second quarter worth $42,000. US Bancorp DE raised its stake in shares of SunOpta by 139.3% in the 3rd quarter. US Bancorp DE now owns 8,197 shares of the company’s stock valued at $52,000 after purchasing an additional 4,772 shares during the period. Ballentine Partners LLC bought a new stake in shares of SunOpta in the second quarter valued at about $60,000. MQS Management LLC acquired a new position in shares of SunOpta during the second quarter worth about $63,000. Finally, EP Wealth Advisors LLC bought a new position in shares of SunOpta during the third quarter worth about $79,000. 85.39% of the stock is owned by institutional investors and hedge funds.

SunOpta Company Profile

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.