SunOpta (NASDAQ:STKL) Reaches New 1-Year High – Here’s Why

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.64 and last traded at $7.63, with a volume of 50033 shares changing hands. The stock had previously closed at $7.51.

Analyst Ratings Changes

STKL has been the topic of a number of research reports. DA Davidson reissued a “buy” rating and set a $9.00 price objective on shares of SunOpta in a report on Thursday, October 10th. Stephens lifted their price target on shares of SunOpta from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

SunOpta Stock Up 0.9 %

The company has a current ratio of 1.20, a quick ratio of 0.61 and a debt-to-equity ratio of 1.61. The stock has a 50 day simple moving average of $6.37 and a 200 day simple moving average of $5.89. The firm has a market capitalization of $905.43 million, a PE ratio of -41.72 and a beta of 1.83.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $176.22 million during the quarter, compared to analyst estimates of $172.30 million. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. As a group, sell-side analysts forecast that SunOpta Inc. will post 0.13 earnings per share for the current year.

Insider Transactions at SunOpta

In related news, insider Robert Duchscher sold 50,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $7.33, for a total transaction of $366,500.00. Following the transaction, the insider now owns 42,971 shares in the company, valued at $314,977.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of SunOpta during the 3rd quarter valued at about $6,394,000. Blair William & Co. IL boosted its position in SunOpta by 77.0% during the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock valued at $13,543,000 after acquiring an additional 857,603 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of SunOpta by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 1,396,724 shares of the company’s stock worth $7,542,000 after acquiring an additional 751,126 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of SunOpta by 127.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,063,918 shares of the company’s stock worth $6,788,000 after acquiring an additional 596,403 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SunOpta by 250.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,869 shares of the company’s stock worth $4,848,000 after acquiring an additional 542,832 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors.

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.