SunOpta (NASDAQ:STKL) Sets New 1-Year High – Still a Buy?

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $8.11 and last traded at $7.75, with a volume of 113910 shares trading hands. The stock had previously closed at $7.81.

Analyst Upgrades and Downgrades

Several research firms recently commented on STKL. DA Davidson reaffirmed a “buy” rating and set a $9.00 target price on shares of SunOpta in a research note on Thursday, October 10th. Stephens lifted 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. 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

SunOpta Stock Down 1.2 %

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 business has a 50 day simple moving average of $6.73 and a 200-day simple moving average of $6.04.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The company 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%. On average, equities analysts forecast that SunOpta Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at SunOpta

In related news, insider Robert Duchscher sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $7.33, for a total value of $366,500.00. Following the transaction, the insider now directly owns 42,971 shares in the company, valued at approximately $314,977.43. This represents a 53.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rebecca Fisher sold 13,142 shares of SunOpta stock in a transaction dated Tuesday, November 19th. The stock was 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 of the company’s stock, valued at approximately $822,430. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. 6.48% of the stock is owned by corporate insiders.

Institutional Trading of SunOpta

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of SunOpta by 321.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 467,515 shares of the company’s stock worth $2,525,000 after acquiring an additional 356,700 shares during the last quarter. Hodges Capital Management Inc. raised its position in SunOpta by 11.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock worth $17,273,000 after purchasing an additional 323,397 shares during the period. Vanguard Group Inc. boosted its position in SunOpta by 7.5% during the first quarter. Vanguard Group Inc. now owns 642,505 shares of the company’s stock valued at $4,414,000 after buying an additional 44,905 shares during the period. SG Americas Securities LLC purchased a new position in shares of SunOpta in the third quarter worth about $6,394,000. Finally, Royce & Associates LP lifted its stake in shares of SunOpta by 9.3% in the 3rd quarter. Royce & Associates LP now owns 1,538,496 shares of the company’s stock valued at $9,816,000 after acquiring an additional 130,470 shares during the last quarter. Hedge funds and other 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.