Citigroup Analysts Give SunOpta (NASDAQ:STKL) a $3.00 Price Target

SunOpta (NASDAQ:STKL) (TSE:SOY) has been assigned a $3.00 price objective by equities research analysts at Citigroup in a report released on Monday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price target suggests a potential upside of 36.36% from the company’s previous close.

A number of other equities research analysts have also commented on STKL. BidaskClub lowered SunOpta from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. ValuEngine upgraded SunOpta from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research downgraded SunOpta from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Shares of STKL stock traded up $0.12 during trading hours on Monday, hitting $2.20. 85,589 shares of the company’s stock were exchanged, compared to its average volume of 458,650. The company has a 50-day moving average price of $2.96. The company has a current ratio of 1.30, a quick ratio of 0.43 and a debt-to-equity ratio of 1.86. The firm has a market cap of $193.05 million, a PE ratio of -7.79 and a beta of 0.72. SunOpta has a 52 week low of $1.98 and a 52 week high of $8.38.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $293.00 million for the quarter, compared to the consensus estimate of $302.40 million. SunOpta had a negative return on equity of 13.97% and a negative net margin of 6.93%. As a group, research analysts expect that SunOpta will post -0.39 earnings per share for the current year.

In other news, CEO Joseph Ennen purchased 40,000 shares of SunOpta stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average cost of $4.57 per share, for a total transaction of $182,800.00. Following the purchase, the chief executive officer now directly owns 169,000 shares of the company’s stock, valued at approximately $772,330. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Dean Hollis purchased 75,360 shares of SunOpta stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $2.08 per share, with a total value of $156,748.80. Following the completion of the purchase, the director now directly owns 334,279 shares in the company, valued at $695,300.32. The disclosure for this purchase can be found here. Insiders have bought a total of 165,360 shares of company stock valued at $538,549 over the last quarter. 2.16% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STKL. BlackRock Inc. raised its position in SunOpta by 11.5% during the fourth quarter. BlackRock Inc. now owns 230,309 shares of the company’s stock valued at $891,000 after purchasing an additional 23,666 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of SunOpta during the 4th quarter valued at about $106,000. Jane Street Group LLC bought a new position in shares of SunOpta during the 4th quarter valued at about $224,000. Millennium Management LLC bought a new position in shares of SunOpta during the 4th quarter valued at about $117,000. Finally, Boyar Asset Management Inc. boosted its holdings in shares of SunOpta by 73.5% during the 1st quarter. Boyar Asset Management Inc. now owns 57,510 shares of the company’s stock valued at $199,000 after purchasing an additional 24,372 shares during the last quarter. Institutional investors and hedge funds own 76.68% of the company’s stock.

SunOpta Company Profile

SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, and internationally. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.

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