Brokerages Set SunOpta Inc. (NASDAQ:STKL) PT at $9.40

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) has been assigned an average recommendation of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.40.

A number of research analysts recently commented on STKL shares. BMO Capital Markets boosted their price objective on shares of SunOpta from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. DA Davidson boosted their price objective on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group boosted their price objective on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 29th.

SunOpta Stock Down 1.9 %

SunOpta stock opened at $6.55 on Friday. The firm’s 50 day simple moving average is $6.47 and its 200-day simple moving average is $5.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.19 and a quick ratio of 0.65. SunOpta has a fifty-two week low of $2.79 and a fifty-two week high of $8.56.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $181.62 million for the quarter, compared to the consensus estimate of $165.10 million. SunOpta had a negative net margin of 22.85% and a positive return on equity of 4.05%. Analysts anticipate that SunOpta will post 0.14 earnings per share for the current fiscal year.

Insider Activity at SunOpta

In related news, insider Joseph Ennen sold 150,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the completion of the transaction, the insider now directly owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Joseph Ennen sold 150,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the completion of the transaction, the insider now directly owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian W. Kocher purchased 36,000 shares of the stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the acquisition, the chief executive officer now directly owns 36,000 shares in the company, valued at $243,000. The disclosure for this purchase can be found here. Corporate insiders own 6.48% of the company’s stock.

Institutional Investors Weigh In On SunOpta

Several institutional investors and hedge funds have recently bought and sold shares of STKL. Granahan Investment Management LLC grew its holdings in shares of SunOpta by 1,291.2% in the 4th quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock worth $13,094,000 after purchasing an additional 2,221,718 shares during the last quarter. CastleKnight Management LP bought a new stake in shares of SunOpta in the 4th quarter worth about $8,743,000. Diamond Hill Capital Management Inc. grew its holdings in shares of SunOpta by 65.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,904,312 shares of the company’s stock worth $13,158,000 after purchasing an additional 1,546,567 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of SunOpta by 306.5% in the 3rd quarter. Peregrine Capital Management LLC now owns 940,535 shares of the company’s stock worth $3,170,000 after purchasing an additional 709,158 shares during the last quarter. Finally, First Dallas Securities Inc. grew its holdings in shares of SunOpta by 1,706.9% in the 3rd quarter. First Dallas Securities Inc. now owns 650,500 shares of the company’s stock worth $2,192,000 after purchasing an additional 614,500 shares during the last quarter. Institutional investors own 85.39% of the company’s stock.

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.