SunOpta (NASDAQ:STKL) Given a $3.00 Price Target at Citigroup

Citigroup set a $3.00 price target on SunOpta (NASDAQ:STKL) (TSE:SOY) in a report released on Monday, TipRanks reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of SunOpta from a sell rating to a strong sell rating in a research report on Monday, June 24th. Zacks Investment Research downgraded shares of SunOpta from a hold rating to a sell rating in a research report on Tuesday. Finally, ValuEngine raised shares of SunOpta from a sell rating to a hold rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $3.00.

Shares of SunOpta stock traded up $0.10 on Monday, hitting $2.18. The stock had a trading volume of 933,864 shares, compared to its average volume of 461,709. The company has a 50 day moving average of $2.96. SunOpta has a twelve month low of $1.98 and a twelve month high of $8.38. The company has a quick ratio of 0.43, a current ratio of 1.30 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $193.05 million, a price-to-earnings ratio of -7.79 and a beta of 0.72.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). SunOpta had a negative net margin of 6.93% and a negative return on equity of 13.97%. The firm had revenue of $293.00 million during the quarter, compared to analyst estimates of $302.40 million. On average, equities analysts anticipate that SunOpta will post -0.39 earnings per share for the current year.

In other news, CEO Joseph Ennen bought 100,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $2.25 per share, with a total value of $225,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard Dean Hollis acquired 75,360 shares of SunOpta stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $2.08 per share, with a total value of $156,748.80. Following the transaction, the director now owns 334,279 shares in the company, valued at $695,300.32. The disclosure for this purchase can be found here. Insiders have acquired a total of 265,360 shares of company stock valued at $763,549 in the last three months. Insiders own 2.16% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Aperio Group LLC grew its position in shares of SunOpta by 76.4% during the 2nd quarter. Aperio Group LLC now owns 25,630 shares of the company’s stock worth $84,000 after buying an additional 11,097 shares during the period. Hollencrest Capital Management acquired a new stake in shares of SunOpta during the 1st quarter worth approximately $87,000. Squarepoint Ops LLC acquired a new stake in shares of SunOpta during the 4th quarter worth approximately $106,000. Millennium Management LLC acquired a new stake in shares of SunOpta during the 4th quarter worth approximately $117,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of SunOpta during the 2nd quarter worth approximately $158,000. 76.68% of the stock is owned by institutional investors.

About SunOpta

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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