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

SunOpta (NASDAQ:STKL) (TSE:SOY) issued its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share 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 company had revenue of $182.80 million during the quarter, compared to the consensus estimate of $168.87 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Trading Up 3.7 %

Shares of STKL stock traded up $0.21 during trading hours on Thursday, hitting $5.86. 2,529,755 shares of the company’s stock traded hands, compared to its average volume of 877,233. The stock’s 50 day simple moving average is $6.49 and its 200 day simple moving average is $5.66. The stock has a market cap of $693.40 million, a PE ratio of -4.11 and a beta of 1.73. SunOpta has a 12 month low of $2.79 and a 12 month high of $8.22. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 1.48.

Insider Activity

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

Analyst Ratings Changes

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

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.