Weiss Ratings Reaffirms Sell (E+) Rating for SunOpta (NASDAQ:STKL)

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for SunOpta (NASDAQ:STKL), indicating continued bearish sentiment towards the stock.
• Zacks Research downgraded SunOpta from a "strong-buy" to a "hold" rating, contributing to a current consensus rating of "hold" with a price target of $9.50.
• SunOpta's stock opened at $5.97, reflecting its performance amidst recent earnings that beat estimates, yet the company faces challenges with a negative net margin.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY's stock had its "sell (e+)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Zacks Research downgraded SunOpta from a "strong-buy" rating to a "hold" rating in a report on Monday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SunOpta presently has a consensus rating of "Hold" and a consensus price target of $9.50.

SunOpta Stock Performance

Shares of NASDAQ:STKL opened at $5.97 on Wednesday. The company has a market cap of $720.82 million, a P/E ratio of -99.50 and a beta of 1.40. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.39 and a current ratio of 0.96. SunOpta has a one year low of $3.64 and a one year high of $8.11. The business's 50-day simple moving average is $6.13 and its 200 day simple moving average is $5.68.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last announced its earnings results on Wednesday, August 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $191.49 million for 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%. On average, sell-side analysts forecast that SunOpta will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SunOpta

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in SunOpta by 764.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,502 shares of the company's stock valued at $26,000 after purchasing an additional 3,981 shares in the last quarter. BNP Paribas Financial Markets grew its stake in SunOpta by 65.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company's stock valued at $54,000 after purchasing an additional 3,669 shares in the last quarter. Bank of Montreal Can acquired a new stake in SunOpta during the 2nd quarter valued at approximately $68,000. Tower Research Capital LLC TRC grew its stake in SunOpta by 132.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,460 shares of the company's stock valued at $72,000 after purchasing an additional 7,101 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in SunOpta during the 2nd quarter valued at approximately $73,000. Institutional investors and hedge funds 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.

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