SunOpta’s (STKL) “Buy” Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of SunOpta (NASDAQ:STKL) (TSE:SOY) in a report issued on Monday,Benzinga reports. DA Davidson currently has a $8.00 price objective on the stock.

Several other equities research analysts have also weighed in on the stock. William Blair lowered shares of SunOpta from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Mizuho reduced their target price on SunOpta from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of SunOpta in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

SunOpta Trading Up 0.3%

NASDAQ STKL opened at $6.43 on Monday. SunOpta has a 12 month low of $3.32 and a 12 month high of $7.68. The stock has a 50-day simple moving average of $4.32 and a 200 day simple moving average of $5.09. The company has a current ratio of 0.98, a quick ratio of 0.37 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $776.68 million, a PE ratio of 33.74 and a beta of 1.13.

Insider Buying and Selling

In other news, CFO Greg Gaba purchased 15,000 shares of SunOpta stock in a transaction on Monday, November 24th. The stock was purchased at an average price of $3.39 per share, with a total value of $50,850.00. Following the transaction, the chief financial officer directly owned 110,970 shares in the company, valued at $376,188.30. The trade was a 15.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in STKL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SunOpta by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,001 shares of the company’s stock worth $272,000 after buying an additional 2,424 shares during the last quarter. Jane Street Group LLC boosted its position in SunOpta by 607.5% during the first quarter. Jane Street Group LLC now owns 281,976 shares of the company’s stock valued at $1,370,000 after purchasing an additional 242,121 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in SunOpta in the second quarter valued at approximately $388,000. NorthRock Partners LLC bought a new position in SunOpta in the second quarter valued at approximately $90,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of SunOpta during the 2nd quarter worth approximately $1,417,000. Institutional investors own 85.39% of the company’s stock.

SunOpta Company Profile

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.