Suja Life (NASDAQ:SUJA) Cut to "Underperform" at Bank of America

Key Points

• Bank of America downgraded Suja Life to “Underperform” from “Neutral” and cut its price target from $8 to $5, implying 37.4% downside from the current share price.
• Suja reported quarterly EPS of -$0.22, missing the -$0.13 consensus; revenue rose 3.3% year over year to $76.37 million, beating estimates.
• Analyst opinions remain mixed: Suja’s consensus rating is “Hold,” with an average price target of $15.60. Insiders have also purchased 1.73 million shares worth about $15.3 million over the past three months.

Suja Life (NASDAQ:SUJA - Get Free Report) was downgraded by equities research analysts at Bank of America from a "neutral" rating to an "underperform" rating in a research report issued to clients and investors on Thursday, FinViz reports. They presently have a $5.00 price target on the stock, down from their prior price target of $8.00. Bank of America's price objective points to a potential downside of 37.42% from the company's current price.

A number of other research analysts have also recently issued reports on SUJA. William Blair cut Suja Life from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 5th. Jefferies Financial Group decreased their target price on shares of Suja Life from $22.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday. Weiss Ratings reiterated a "sell (e-)" rating on shares of Suja Life in a report on Tuesday, November 3rd. Needham & Company LLC assumed coverage on Suja Life in a research note on Thursday, October 15th. They issued a "hold" rating for the company. Finally, Roth Capital started coverage on Suja Life in a report on Friday, October 2nd. They set a "buy" rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Suja Life currently has a consensus rating of "Hold" and a consensus target price of $15.60.

Suja Life Stock Performance

Shares of NASDAQ:SUJA opened at $7.99 on Thursday. Suja Life has a 12-month low of $5.59 and a 12-month high of $18.48. The stock's 50 day moving average price is $9.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.27 and a quick ratio of 0.96.

Suja Life (NASDAQ:SUJA - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.09). The firm had revenue of $76.37 million during the quarter. The business's quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Suja Life will post 0.06 EPS for the current year.

Insider Transactions at Suja Life

In other news, major shareholder Schwartz Food Chain Fund Paine acquired 233,624 shares of Suja Life stock in a transaction dated Wednesday, August 26th. The shares were bought at an average cost of $9.59 per share, with a total value of $2,240,454.16. Following the purchase, the insider owned 10,677,629 shares in the company, valued at $102,398,462.11. This trade represents a 2.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 1,731,033 shares of company stock worth $15,266,289.

Institutional Investors Weigh In On Suja Life

A number of hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new stake in Suja Life in the second quarter valued at $8,294,000. State Street Corp bought a new position in Suja Life during the 2nd quarter valued at $607,000. Readystate Asset Management LP bought a new position in shares of Suja Life during the second quarter valued at about $305,000. CenterBook Partners LP increased its stake in Suja Life by 169.8% in the 3rd quarter. CenterBook Partners LP now owns 75,364 shares of the company's stock valued at $732,000 after buying an additional 47,427 shares during the last quarter. Finally, Brighton Jones LLC bought a new stake in Suja Life during the third quarter worth $108,000.

Key Stories Impacting Suja Life

These are some of the SUJA stories that stood out recently:

• Positive Sentiment: Third-quarter revenue was $76.37 million, beating estimates by about $5.09 million and rising 3.3% year over year. Quarterly results
• Neutral Sentiment: Johnson Fistel announced an investigation into whether Suja Life or certain executives violated securities laws. The announcement is not a finding of wrongdoing, but adds a potential legal overhang for investors. Johnson Fistel investigation announcement
• Negative Sentiment: Third-quarter EPS of negative $0.22 missed the consensus estimate of negative $0.13. Goldman Sachs also downgraded the stock from Buy to Neutral, despite setting a $12 price target. Shares fall on outlook cut

About Suja Life

Suja Life, Inc. is a beverage company that makes and markets organic and functional drinks. Its products include cold-pressed juices, wellness shots and other beverages sold under brands including Suja Organic and Vive Organic. The company's products are available through retail stores and other sales channels, primarily in the United States. Suja was founded in San Diego in 2012 and has since expanded its portfolio through the Vive Organic brand.

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