SunOpta's (STKL) Buy Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of SunOpta (NASDAQ:STKL - Free Report) TSE: SOY in a report released on Thursday morning, Benzinga reports. They currently have a $9.00 target price on the stock.

Separately, StockNews.com upgraded SunOpta from a sell rating to a hold rating in a report on Thursday.

SunOpta Price Performance

Shares of STKL traded up $0.14 during mid-day trading on Thursday, hitting $6.36. 619,582 shares of the company traded hands, compared to its average volume of 806,597. The business has a 50-day moving average of $6.13 and a 200 day moving average of $5.90. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $759.00 million, a price-to-earnings ratio of -4.18 and a beta of 1.83. SunOpta has a one year low of $2.79 and a one year high of $7.59.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The company 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%. SunOpta's revenue was down 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, equities analysts expect that SunOpta will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SunOpta

Several hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. bought a new stake in SunOpta in the 2nd quarter valued at about $42,000. Ballentine Partners LLC acquired a new stake in SunOpta in the second quarter valued at about $60,000. MQS Management LLC acquired a new position in SunOpta during the 2nd quarter worth approximately $63,000. Tealwood Asset Management Inc. acquired a new position in shares of SunOpta during the third quarter worth $80,000. Finally, Principal Financial Group Inc. boosted its stake in shares of SunOpta by 18.2% during the first 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 in the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

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.