SunOpta (NASDAQ:STKL) Posts Quarterly Earnings Results, Hits Estimates

SunOpta (NASDAQ:STKL) (TSE:SOY) announced its quarterly earnings data on Wednesday. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02, Briefing.com reports. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. The business had revenue of $182.80 million during the quarter, compared to analysts’ expectations of $168.87 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Stock Performance

Shares of STKL traded up $0.21 during mid-day trading on Thursday, reaching $5.86. The company’s stock had a trading volume of 3,339,688 shares, compared to its average volume of 887,123. The business has a 50-day simple moving average of $6.49 and a two-hundred day simple moving average of $5.66. SunOpta has a 1-year low of $2.79 and a 1-year high of $8.22. The stock has a market cap of $693.40 million, a P/E ratio of -4.11 and a beta of 1.73. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 1.48.

Insider Buying and Selling at SunOpta

In other SunOpta news, insider Joseph Ennen sold 150,000 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the transaction, the insider now owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Joseph Ennen sold 150,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $6.89, for a total value of $1,033,500.00. Following the completion of the transaction, the insider now owns 1,743,399 shares of the company’s stock, valued at $12,012,019.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian W. Kocher bought 36,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $6.75 per share, with a total value of $243,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,000 shares in the company, valued at approximately $243,000. The disclosure for this purchase can be found here. Corporate insiders own 6.48% of the company’s stock.

Analysts Set New Price Targets

STKL has been the topic of a number of analyst reports. BMO Capital Markets increased their price target on shares of SunOpta from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Canaccord Genuity Group increased their target price on SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, DA Davidson increased their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

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.