SunOpta (NASDAQ:STKL) Downgraded by Zacks Research to "Hold"

Key Points

• SunOpta has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, indicating a more cautious outlook on the stock.
• Weiss Ratings has also reaffirmed a "sell (e+)" rating for SunOpta, with the stock currently holding a consensus rating of "Hold" and a price target of $9.50.
• Recent earnings showed SunOpta exceeding estimates with a reported EPS of $0.04, driven by revenues of $191.49 million, surpassing the consensus of $185.36 million.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SunOpta in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SunOpta has a consensus rating of "Hold" and a consensus price target of $9.50.

SunOpta Price Performance

Shares of NASDAQ:STKL opened at $5.88 on Monday. The company has a market cap of $709.95 million, a P/E ratio of -98.00 and a beta of 1.40. The company has a quick ratio of 0.39, a current ratio of 0.96 and a debt-to-equity ratio of 1.46. SunOpta has a 52 week low of $3.64 and a 52 week high of $8.11. The business has a fifty day simple moving average of $6.13 and a 200-day simple moving average of $5.68.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The business had revenue of $191.49 million during the quarter, compared to the consensus estimate of $185.36 million. SunOpta had a positive return on equity of 12.82% and a negative net margin of 0.66%. Equities research analysts forecast that SunOpta will post 0.13 EPS for the current year.

Institutional Investors Weigh In On SunOpta

Several institutional investors and hedge funds have recently modified their holdings of the stock. Union Bancaire Privee UBP SA boosted its position in shares of SunOpta by 24.9% in the third quarter. Union Bancaire Privee UBP SA now owns 40,828 shares of the company's stock worth $239,000 after buying an additional 8,149 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of SunOpta by 132.5% in the second quarter. Tower Research Capital LLC TRC now owns 12,460 shares of the company's stock worth $72,000 after buying an additional 7,101 shares during the period. Tidal Investments LLC boosted its holdings in SunOpta by 14.0% in the second quarter. Tidal Investments LLC now owns 97,642 shares of the company's stock valued at $566,000 after purchasing an additional 11,995 shares during the last quarter. Scopus Asset Management L.P. purchased a new position in SunOpta in the second quarter valued at about $285,000. Finally, Oxford Asset Management LLP purchased a new position in SunOpta in the second quarter valued at about $109,000. Hedge funds and other institutional investors own 85.39% of the company's stock.

SunOpta Company Profile

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.

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