SunOpta (NASDAQ:STKL) Rating Increased to Hold at StockNews.com

SunOpta (NASDAQ:STKL) (TSE:SOY) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

SunOpta Stock Performance

Shares of NASDAQ:STKL opened at $6.44 on Monday. SunOpta has a 1 year low of $2.79 and a 1 year high of $7.59. The stock has a market capitalization of $768.54 million, a price-to-earnings ratio of -4.24 and a beta of 1.82. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. The company’s 50 day simple moving average is $5.99 and its 200 day simple moving average is $5.92.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The company had revenue of $171.00 million for the quarter, compared to analyst estimates of $159.95 million. During the same quarter last year, the company posted ($0.03) EPS. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. As a group, research analysts predict that SunOpta will post 0.14 EPS for the current fiscal year.

Institutional Trading of SunOpta

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Granahan Investment Management LLC boosted its stake in shares of SunOpta by 1,291.2% during the fourth quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock valued at $13,094,000 after purchasing an additional 2,221,718 shares in the last quarter. CastleKnight Management LP acquired a new stake in SunOpta during the 4th quarter worth approximately $8,743,000. Blair William & Co. IL grew its holdings in SunOpta by 77.0% during the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock worth $13,543,000 after acquiring an additional 857,603 shares during the last quarter. Marshall Wace LLP increased its position in SunOpta by 116.3% in the 2nd quarter. Marshall Wace LLP now owns 1,396,724 shares of the company’s stock valued at $7,542,000 after acquiring an additional 751,126 shares during the period. Finally, Millennium Management LLC increased its position in SunOpta by 52.5% in the 2nd quarter. Millennium Management LLC now owns 1,333,948 shares of the company’s stock valued at $7,202,000 after acquiring an additional 459,053 shares during the period. Institutional investors 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.