SunOpta (NASDAQ:STKL) Lowered to “Sell” at StockNews.com

StockNews.com lowered shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a hold rating to a sell rating in a report issued on Wednesday morning.

SunOpta Price Performance

NASDAQ:STKL opened at $6.65 on Wednesday. SunOpta has a 52-week low of $2.79 and a 52-week high of $7.59. The company has a market cap of $794.21 million, a P/E ratio of -4.38 and a beta of 1.82. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.61 and a current ratio of 1.27. The stock’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.94.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in SunOpta by 18.2% in the 1st quarter. Principal Financial Group Inc. now owns 12,425 shares of the company’s stock valued at $85,000 after purchasing an additional 1,917 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of SunOpta by 0.9% in the second quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock valued at $1,370,000 after buying an additional 2,155 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of SunOpta by 13.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,913 shares of the company’s stock worth $185,000 after acquiring an additional 3,171 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of SunOpta by 10.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,958 shares of the company’s stock worth $200,000 after acquiring an additional 3,521 shares during the last quarter. Finally, Epiq Partners LLC raised its stake in SunOpta by 1.3% in the 1st quarter. Epiq Partners LLC now owns 295,455 shares of the company’s stock valued at $2,030,000 after acquiring an additional 3,750 shares during the period. Institutional investors own 85.39% of the company’s stock.

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.