SunOpta (NASDAQ:STKL) Hits New 12-Month High – Still a Buy?

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) reached a new 52-week high during trading on Tuesday . The company traded as high as $7.64 and last traded at $7.63, with a volume of 50033 shares trading hands. The stock had previously closed at $7.51.

Analyst Ratings Changes

A number of equities analysts have issued reports on STKL shares. DA Davidson reaffirmed a “buy” rating and set a $9.00 price objective on shares of SunOpta in a report on Thursday, October 10th. StockNews.com upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Stephens increased their price objective on shares of SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One equities research 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 has a consensus rating of “Moderate Buy” and an average target price of $9.50.

SunOpta Stock Performance

The company has a market cap of $905.43 million, a P/E ratio of -41.72 and a beta of 1.83. The company has a quick ratio of 0.61, a current ratio of 1.20 and a debt-to-equity ratio of 1.61. The company’s 50-day moving average is $6.37 and its two-hundred day moving average is $5.89.

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

Insider Activity

In related news, insider Robert Duchscher sold 50,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $7.33, for a total value of $366,500.00. Following the sale, the insider now directly owns 42,971 shares in the company, valued at approximately $314,977.43. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.48% of the company’s stock.

Hedge Funds Weigh In On SunOpta

A number of large investors have recently made changes to their positions in STKL. Hantz Financial Services Inc. purchased a new stake in SunOpta during the 2nd quarter worth about $42,000. US Bancorp DE lifted its holdings in shares of SunOpta by 139.3% in the third quarter. US Bancorp DE now owns 8,197 shares of the company’s stock worth $52,000 after buying an additional 4,772 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of SunOpta in the second quarter valued at approximately $60,000. MQS Management LLC purchased a new position in SunOpta during the second quarter valued at approximately $63,000. Finally, Tealwood Asset Management Inc. bought a new stake in SunOpta during the 3rd quarter worth approximately $80,000. 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.