SunOpta (NASDAQ:STKL) Posts Earnings Results, Hits Expectations

SunOpta (NASDAQ:STKL) (TSE:SOY) released its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02, Briefing.com reports. SunOpta had a negative net margin of 22.85% and a positive return on equity of 4.05%. 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 prior year, the company earned $0.05 EPS. 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 Trading Up 3.7 %

Shares of NASDAQ STKL traded up $0.21 during midday trading on Thursday, reaching $5.86. The stock had a trading volume of 3,339,688 shares, compared to its average volume of 887,123. SunOpta has a twelve month low of $2.79 and a twelve month high of $8.22. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.65 and a current ratio of 1.19. The company’s 50 day moving average price is $6.49 and its 200 day moving average price is $5.66. The firm has a market cap of $693.40 million, a price-to-earnings ratio of -4.11 and a beta of 1.73.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at SunOpta

In related news, CEO Brian W. Kocher acquired 36,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $6.75 per share, with a total value of $243,000.00. Following the transaction, the chief executive officer now directly owns 36,000 shares of the company’s stock, valued at $243,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Brian W. Kocher bought 36,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 36,000 shares of the company’s stock, valued at $243,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Ennen sold 150,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the transaction, the insider now directly owns 1,743,399 shares in the company, valued at $12,012,019.11. The disclosure for this sale can be found here. Insiders own 6.48% of the company’s stock.

About SunOpta

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.