Weiss Ratings Reaffirms Sell (E+) Rating for SunOpta (NASDAQ:STKL)

SunOpta (NASDAQ:STKL) (TSE:SOY)‘s stock had its “sell (e+)” rating reissued by stock analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Separately, Zacks Research lowered shares of SunOpta from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.00.

SunOpta Stock Down 1.2%

SunOpta stock opened at $5.73 on Friday. The company’s 50 day simple moving average is $6.08 and its 200 day simple moving average is $5.80. The firm has a market capitalization of $691.84 million, a price-to-earnings ratio of -95.50 and a beta of 1.40. SunOpta has a fifty-two week low of $3.64 and a fifty-two week high of $8.11. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.96 and a quick ratio of 0.39.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $191.49 million during the quarter, compared to analysts’ expectations of $185.36 million. SunOpta had a negative net margin of 0.66% and a positive return on equity of 12.82%. As a group, sell-side analysts anticipate that SunOpta will post 0.13 EPS for the current year.

Hedge Funds Weigh In On SunOpta

Several large investors have recently modified their holdings of STKL. Wealth Enhancement Advisory Services LLC grew its stake in SunOpta by 120.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 84,266 shares of the company’s stock valued at $410,000 after buying an additional 46,068 shares during the last quarter. Peregrine Capital Management LLC increased its position in SunOpta by 30.7% during the first quarter. Peregrine Capital Management LLC now owns 1,084,518 shares of the company’s stock worth $5,271,000 after acquiring an additional 254,800 shares during the period. Envestnet Asset Management Inc. raised its stake in SunOpta by 1.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,103,918 shares of the company’s stock worth $5,365,000 after purchasing an additional 11,584 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in SunOpta by 21.5% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 252,700 shares of the company’s stock valued at $1,228,000 after purchasing an additional 44,700 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in SunOpta by 13.5% in the 1st quarter. Tectonic Advisors LLC now owns 355,826 shares of the company’s stock valued at $1,729,000 after purchasing an additional 42,415 shares during the period. 85.39% of the stock is owned by institutional investors.

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.