BMO Capital Markets Lowers SunOpta (NASDAQ:STKL) Price Target to $9.00

SunOpta (NASDAQ:STKL) (TSE:SOY) had its price target reduced by BMO Capital Markets from $10.00 to $9.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 104.08% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. TheStreet lowered SunOpta from a “c-” rating to a “d+” rating in a report on Thursday, August 10th. Canaccord Genuity Group lowered their price target on SunOpta from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Mizuho began coverage on SunOpta in a research note on Monday, October 2nd. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, StockNews.com started coverage on SunOpta in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.00.

SunOpta Stock Performance

STKL stock opened at $4.41 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.46 and a current ratio of 1.54. The stock has a market capitalization of $521.17 million, a price-to-earnings ratio of -3.11 and a beta of 1.58. SunOpta has a 1 year low of $2.79 and a 1 year high of $10.23. The stock’s fifty day moving average is $3.71 and its two-hundred day moving average is $5.56.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, August 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The firm had revenue of $207.81 million for the quarter, compared to analyst estimates of $225.00 million. SunOpta had a positive return on equity of 1.93% and a negative net margin of 20.14%. On average, research analysts predict that SunOpta will post -0.07 EPS for the current year.

Insider Activity

In related news, Director Lovas Katrina Houde sold 45,000 shares of SunOpta stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $4.40, for a total transaction of $198,000.00. Following the completion of the sale, the director now directly owns 201,586 shares of the company’s stock, valued at approximately $886,978.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.82% of the company’s stock.

Hedge Funds Weigh In On SunOpta

Several hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC increased its position in SunOpta by 67.4% in the 3rd quarter. Signaturefd LLC now owns 7,663 shares of the company’s stock valued at $26,000 after buying an additional 3,085 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of SunOpta by 81.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,200 shares of the company’s stock valued at $26,000 after acquiring an additional 2,338 shares in the last quarter. Quarry LP grew its holdings in shares of SunOpta by 932.9% in the second quarter. Quarry LP now owns 4,142 shares of the company’s stock valued at $28,000 after acquiring an additional 3,741 shares in the last quarter. Covestor Ltd grew its holdings in shares of SunOpta by 37,941.7% in the second quarter. Covestor Ltd now owns 4,565 shares of the company’s stock valued at $30,000 after acquiring an additional 4,553 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of SunOpta by 89.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,487 shares of the company’s stock valued at $43,000 after acquiring an additional 3,056 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

SunOpta Company Profile

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products to retailers, foodservice operators, branded food companies, and food manufacturers in the United States, Canada, and internationally. The company operates through Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages segments.