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

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY released its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02, Briefing.com reports. The company had revenue of $182.80 million during the quarter, compared to the consensus estimate of $168.87 million. SunOpta had a negative net margin of 22.85% and a positive return on equity of 4.05%. SunOpta's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Stock Performance

NASDAQ:STKL traded up $0.21 during midday trading on Thursday, reaching $5.86. 3,339,688 shares of the company traded hands, compared to its average volume of 887,172. The company has a fifty day moving average price of $6.46 and a 200 day moving average price of $5.66. The firm has a market capitalization of $693.40 million, a price-to-earnings ratio of -3.83 and a beta of 1.73. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.19 and a quick ratio of 0.65. SunOpta has a twelve month low of $2.79 and a twelve month high of $8.22.

Insider Buying and Selling

In related news, insider Joseph Ennen sold 150,000 shares of the stock in a transaction that occurred on 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 directly owns 1,743,399 shares of the company's stock, valued at approximately $12,012,019.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Brian W. Kocher bought 36,000 shares of the business's stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,000 shares of the company's stock, valued at approximately $243,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph Ennen sold 150,000 shares of the business's stock in a transaction on 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 sale, the insider now directly owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The disclosure for this sale can be found here. Corporate insiders own 6.48% of the company's stock.

Analyst Upgrades and Downgrades

STKL has been the subject of several recent research reports. Canaccord Genuity Group raised their price target on SunOpta from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. DA Davidson lifted 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. Finally, BMO Capital Markets boosted their price target on SunOpta from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.