Analysts Set SunOpta Inc. (NASDAQ:STKL) PT at $9.33

Posted by on Oct 5th, 2023

Shares of SunOpta Inc. (NASDAQ:STKL – Get Free Report) (TSE:SOY) have earned a consensus rating of “Buy” from the four analysts that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $9.25.

A number of equities research analysts recently commented on the stock. Stephens assumed coverage on shares of SunOpta in a research report on Thursday, June 22nd. They issued an “overweight” rating and a $10.00 price objective for the company. StockNews.com assumed coverage on shares of SunOpta in a research report on Thursday, August 17th. They issued a “sell” rating for the company. Mizuho assumed coverage on shares of SunOpta in a research report on Monday. They issued a “buy” rating and a $9.00 price objective for the company. TheStreet downgraded shares of SunOpta from a “c-” rating to a “d+” rating in a research report on Thursday, August 10th. Finally, Canaccord Genuity Group reduced their price objective on shares of SunOpta from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 11th.

View Our Latest Research Report on STKL

SunOpta Stock Performance

NASDAQ STKL opened at $3.28 on Monday. The company has a quick ratio of 0.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.87. SunOpta has a 52-week low of $3.06 and a 52-week high of $11.67. The business’s 50-day moving average price is $4.43 and its 200 day moving average price is $6.30. The firm has a market cap of $387.63 million, a P/E ratio of -11.71 and a beta of 1.56.

SunOpta (NASDAQ:STKL – Get Free Report) (TSE:SOY) last released its quarterly 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 company had revenue of $207.81 million for the quarter, compared to analysts’ expectations of $225.00 million. SunOpta had a positive return on equity of 2.43% and a negative net margin of 3.29%. On average, equities research analysts expect that SunOpta will post 0.02 earnings per share for the current year.

Insider Activity

In other news, Director Lovas Katrina Houde sold 45,000 shares of SunOpta stock in a transaction that occurred on Monday, August 21st. The shares were 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 in the company, valued at approximately $886,978.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Portside Wealth Group LLC purchased a new position in shares of SunOpta during the 2nd quarter worth approximately $100,000. Cooperman Leon G grew its stake in SunOpta by 25.3% in the 2nd quarter. Cooperman Leon G now owns 4,000,000 shares of the company’s stock worth $26,760,000 after acquiring an additional 808,406 shares during the period. Legato Capital Management LLC grew its stake in SunOpta by 63.7% in the 2nd quarter. Legato Capital Management LLC now owns 227,232 shares of the company’s stock worth $1,520,000 after acquiring an additional 88,464 shares during the period. Alliancebernstein L.P. grew its stake in SunOpta by 9.6% in the 2nd quarter. Alliancebernstein L.P. now owns 104,056 shares of the company’s stock worth $696,000 after acquiring an additional 9,140 shares during the period. Finally, Wells Fargo & Company MN grew its stake in SunOpta by 177.2% in the 2nd quarter. Wells Fargo & Company MN now owns 73,345 shares of the company’s stock worth $491,000 after acquiring an additional 46,884 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

SunOpta Company Profile

(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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