SunOpta (NASDAQ:STKL) Hits New 12-Month High - Here's Why

SunOpta Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY shares hit a new 52-week high during trading on Friday . The stock traded as high as $7.81 and last traded at $7.77, with a volume of 70169 shares changing hands. The stock had previously closed at $7.70.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STKL. DA Davidson reiterated a "buy" rating and set a $9.00 target price on shares of SunOpta in a research report on Thursday, October 10th. Stephens upped their price objective on shares of SunOpta from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of SunOpta from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.50.

SunOpta Price Performance

The company has a 50-day moving average of $6.64 and a 200 day moving average of $5.99. The company has a quick ratio of 0.53, a current ratio of 1.20 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $934.26 million, a PE ratio of -43.44 and a beta of 1.83.

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

Insider Transactions at SunOpta

In related news, Director Rebecca Fisher sold 13,142 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $7.58, for a total value of $99,616.36. Following the sale, the director now directly owns 108,500 shares in the company, valued at approximately $822,430. The trade was a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Duchscher sold 50,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were 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 $314,977.43. The trade was a 53.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.48% of the company's stock.

Hedge Funds Weigh In On SunOpta

Large investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in SunOpta by 103.3% in the third quarter. Barclays PLC now owns 178,954 shares of the company's stock valued at $1,142,000 after purchasing an additional 90,937 shares during the period. Geode Capital Management LLC raised its stake in shares of SunOpta by 80.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,127,890 shares of the company's stock worth $13,579,000 after buying an additional 951,462 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in SunOpta in the third quarter valued at $180,000. Hodges Capital Management Inc. boosted its holdings in SunOpta by 12.7% during the third quarter. Hodges Capital Management Inc. now owns 3,604,629 shares of the company's stock worth $22,998,000 after buying an additional 406,005 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of SunOpta by 23.2% during the 3rd quarter. XTX Topco Ltd now owns 97,000 shares of the company's stock worth $619,000 after acquiring an additional 18,260 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.