SunOpta (NASDAQ:STKL) Price Target Cut to $10.00

Posted by on Aug 12th, 2023

SunOpta (NASDAQ:STKL – Get Free Report) (TSE:SOY) had its price objective reduced by research analysts at BMO Capital Markets from $12.00 to $10.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 104.92% from the company’s previous close.

Several other equities analysts have also weighed in on STKL. Stephens assumed coverage on SunOpta in a research note on Thursday, June 22nd. They issued an “overweight” rating and a $10.00 price target for the company. StockNews.com lowered SunOpta from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.20.

View Our Latest Analysis on SunOpta

SunOpta Stock Performance

Shares of STKL stock opened at $4.88 on Thursday. The stock has a market cap of $576.33 million, a PE ratio of -17.43 and a beta of 1.45. The business has a 50-day simple moving average of $6.52 and a 200-day simple moving average of $7.36. The company has a quick ratio of 0.60, a current ratio of 1.75 and a debt-to-equity ratio of 0.86. SunOpta has a 52-week low of $3.99 and a 52-week high of $11.67.

SunOpta (NASDAQ:STKL – Get Free Report) (TSE:SOY) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). SunOpta had a negative net margin of 3.29% and a positive return on equity of 2.42%. The business had revenue of $207.81 million during the quarter, compared to analysts’ expectations of $225.00 million. On average, equities analysts expect that SunOpta will post 0.09 EPS for the current year.

Insider Activity

In related news, CEO Joseph Ennen purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average cost of $6.72 per share, for a total transaction of $100,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,887,401 shares of the company’s stock, valued at $12,683,334.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STKL. Swiss National Bank lifted its holdings in SunOpta by 8.7% in the first quarter. Swiss National Bank now owns 178,725 shares of the company’s stock valued at $897,000 after acquiring an additional 14,300 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in SunOpta by 27.7% in the first quarter. JPMorgan Chase & Co. now owns 432,794 shares of the company’s stock valued at $2,173,000 after acquiring an additional 93,798 shares during the last quarter. American Century Companies Inc. lifted its stake in SunOpta by 4.3% during the first quarter. American Century Companies Inc. now owns 124,500 shares of the company’s stock worth $625,000 after purchasing an additional 5,141 shares in the last quarter. Private Advisor Group LLC acquired a new position in SunOpta during the first quarter worth $60,000. Finally, PNC Financial Services Group Inc. lifted its stake in SunOpta by 81.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,200 shares of the company’s stock worth $26,000 after purchasing an additional 2,338 shares in the last quarter.

About SunOpta

(Get Free Report)

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.

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