FY2018 EPS Estimates for SunOpta, Inc. (STKL) Boosted by Analyst
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) – Investment analysts at William Blair boosted their FY2018 earnings estimates for shares of SunOpta in a report released on Wednesday. William Blair analyst J. Andersen now expects that the company will post earnings of $0.17 per share for the year, up from their previous forecast of $0.16.
STKL has been the subject of a number of other research reports. Zacks Investment Research upgraded SunOpta from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Saturday, July 22nd. BidaskClub cut SunOpta from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $9.30.
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SunOpta (NASDAQ STKL) traded up 1.15% on Thursday, hitting $8.80. 144,510 shares of the stock traded hands. The company’s market capitalization is $761.16 million. The firm has a 50-day moving average price of $8.59 and a 200-day moving average price of $8.58. SunOpta has a 12 month low of $5.73 and a 12 month high of $10.20.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). SunOpta had a negative net margin of 3.70% and a negative return on equity of 0.70%. The company had revenue of $336.45 million for the quarter, compared to analysts’ expectations of $341.18 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis.
In other SunOpta news, CFO Robert Mckeracher sold 36,533 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $8.41, for a total value of $307,242.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Gough purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $8.70 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the insider now owns 20,000 shares in the company, valued at approximately $174,000. The disclosure for this purchase can be found here. 1.88% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of STKL. Bank of New York Mellon Corp acquired a new stake in SunOpta in the 1st quarter worth about $515,000. Karp Capital Management Corp acquired a new stake in SunOpta in the 1st quarter worth about $364,000. Trexquant Investment LP acquired a new stake in SunOpta in the 1st quarter worth about $181,000. OppenheimerFunds Inc. boosted its stake in SunOpta by 13.4% in the 1st quarter. OppenheimerFunds Inc. now owns 84,465 shares of the company’s stock worth $587,000 after buying an additional 9,979 shares during the last quarter. Finally, FMR LLC boosted its stake in SunOpta by 85.1% in the 1st quarter. FMR LLC now owns 3,549,446 shares of the company’s stock worth $24,669,000 after buying an additional 1,631,721 shares during the last quarter. 81.94% of the stock is currently owned by hedge funds and other institutional investors.
SunOpta Company Profile
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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