SunOpta Inc. (NASDAQ:STKL) Receives $9.40 Average Target Price from Brokerages

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) has been given an average rating of “Buy” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have covered the stock in the last year is $9.40.

STKL has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target 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. Canaccord Genuity Group raised their price objective on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, DA Davidson raised their price objective on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th.

Insider Transactions at SunOpta

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

Hedge Funds Weigh In On SunOpta

A number of institutional investors and hedge funds have recently made changes to their positions in STKL. Signaturefd LLC boosted its holdings in shares of SunOpta by 67.4% in the third quarter. Signaturefd LLC now owns 7,663 shares of the company’s stock worth $26,000 after buying an additional 3,085 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of SunOpta by 50.9% in the third quarter. PNC Financial Services Group Inc. now owns 10,189 shares of the company’s stock worth $34,000 after buying an additional 3,439 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of SunOpta in the third quarter worth approximately $37,000. Regal Investment Advisors LLC purchased a new position in shares of SunOpta in the third quarter worth approximately $42,000. Finally, NBC Securities Inc. purchased a new position in shares of SunOpta in the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 85.39% of the company’s stock.

SunOpta Trading Up 3.0 %

NASDAQ:STKL opened at $6.55 on Friday. The company has a 50-day moving average price of $6.45 and a 200-day moving average price of $5.48. SunOpta has a 12 month low of $2.79 and a 12 month high of $8.56. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 1.48. The stock has a market cap of $774.87 million, a price-to-earnings ratio of -4.28 and a beta of 1.73.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, February 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. SunOpta had a negative net margin of 22.85% and a positive return on equity of 4.05%. The firm had revenue of $181.62 million during the quarter, compared to analysts’ expectations of $165.10 million. Equities analysts predict that SunOpta will post 0.14 EPS for the current year.

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.