SunOpta (NASDAQ:STKL) Reaches New 52-Week High – Here’s Why

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. StockNews.com raised SunOpta from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Stephens increased their price target on shares of SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $9.00 target price on shares of SunOpta in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

SunOpta Price Performance

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 company’s 50 day moving average is $6.73 and its 200-day moving average is $6.04.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Tuesday, November 5th. The company reported $0.02 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 business had revenue of $176.22 million during the quarter, compared to the consensus estimate of $172.30 million. On average, sell-side analysts expect that SunOpta Inc. will post 0.13 EPS for the current year.

Insider Transactions at SunOpta

In other SunOpta news, insider Robert Duchscher sold 50,000 shares of the 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 completion of the transaction, the insider now directly owns 42,971 shares in the company, valued at approximately $314,977.43. This trade 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 can be accessed through this link. Also, Director Rebecca Fisher sold 13,142 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $7.58, for a total transaction of $99,616.36. Following the completion of the transaction, the director now 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 insiders.

Institutional Trading of SunOpta

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its position 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 valued at $2,525,000 after buying an additional 356,700 shares during the last quarter. Hodges Capital Management Inc. increased its position in SunOpta by 11.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock valued at $17,273,000 after purchasing an additional 323,397 shares during the period. Vanguard Group Inc. raised its holdings in SunOpta by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 642,505 shares of the company’s stock worth $4,414,000 after purchasing an additional 44,905 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of SunOpta in the 3rd quarter worth approximately $6,394,000. Finally, Royce & Associates LP boosted 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 purchasing an additional 130,470 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

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.