SunOpta (NASDAQ:STKL) Reaches New 52-Week High - Still a Buy?

SunOpta Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $8.11 and last traded at $7.75, with a volume of 113910 shares changing hands. The stock had previously closed at $7.81.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STKL. Stephens boosted their price target on SunOpta from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. DA Davidson restated a "buy" rating and issued a $9.00 target price on shares of SunOpta in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of SunOpta from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, SunOpta currently has an average rating of "Moderate Buy" and a consensus target price of $9.50.

SunOpta Trading Down 0.8 %

The business has a 50-day moving average of $6.75 and a 200-day moving average of $6.06. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.20 and a quick ratio of 0.53. The firm has a market cap of $925.90 million, a price-to-earnings ratio of -43.06 and a beta of 1.83.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. The firm had revenue of $176.22 million for the quarter, compared to analyst estimates of $172.30 million. Research analysts anticipate that SunOpta Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling at SunOpta

In other news, insider Robert Duchscher sold 50,000 shares of SunOpta stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $7.33, for a total transaction of $366,500.00. Following the completion of the transaction, the insider now directly owns 42,971 shares in the company, valued at approximately $314,977.43. The trade was a 53.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rebecca Fisher sold 13,142 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $7.58, for a total value of $99,616.36. Following the completion of the sale, the director now owns 108,500 shares in the company, valued at approximately $822,430. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.48% of the company's stock.

Hedge Funds Weigh In On SunOpta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STKL. Hantz Financial Services Inc. acquired a new stake in SunOpta during the second quarter worth approximately $42,000. US Bancorp DE lifted its holdings in SunOpta by 139.3% during the 3rd quarter. US Bancorp DE now owns 8,197 shares of the company's stock worth $52,000 after purchasing an additional 4,772 shares during the last quarter. Ballentine Partners LLC bought a new stake in SunOpta in the 2nd quarter valued at $60,000. MQS Management LLC acquired a new position in SunOpta in the 2nd quarter valued at $63,000. Finally, EP Wealth Advisors LLC bought a new position in SunOpta during the 3rd quarter worth $79,000. 85.39% of the stock is owned by institutional investors.

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.