SunOpta (NASDAQ:STKL) Stock Price Up 13.3% on Better-Than-Expected Earnings

Key Points

• SunOpta's stock price surged by 13.3% after reporting better-than-expected earnings of $0.04 per share, exceeding analysts' predictions of $0.02.
• The company generated revenue of $191.49 million for the quarter, surpassing the consensus estimate of $185.36 million.
• Insider transactions indicated confidence in the company, with CEO Brian W. Kocher purchasing 10,000 shares at an average price of $5.72.

SunOpta, Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY's share price rose 13.3% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $6.30 and last traded at $5.88. Approximately 474,858 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 871,071 shares. The stock had previously closed at $5.19.

The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. SunOpta had a negative net margin of 1.90% and a positive return on equity of 11.65%. The company had revenue of $191.49 million during the quarter, compared to the consensus estimate of $185.36 million.

Insider Buying and Selling at SunOpta

In other SunOpta news, CEO Brian W. Kocher purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was acquired at an average cost of $5.72 per share, with a total value of $57,200.00. Following the completion of the purchase, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $57,200. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SunOpta

A number of institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of SunOpta during the second quarter worth approximately $401,000. Fox Run Management L.L.C. bought a new stake in shares of SunOpta during the second quarter worth approximately $257,000. First Eagle Investment Management LLC raised its stake in shares of SunOpta by 37.8% during the second quarter. First Eagle Investment Management LLC now owns 586,750 shares of the company's stock worth $3,403,000 after buying an additional 160,824 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of SunOpta during the second quarter worth approximately $68,000. Finally, Savvy Advisors Inc. bought a new stake in shares of SunOpta during the second quarter worth approximately $89,000. 85.39% of the stock is owned by institutional investors.

SunOpta Stock Performance

The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.43. The firm has a market capitalization of $698.19 million, a P/E ratio of -46.00 and a beta of 1.32. The stock's 50 day moving average is $6.06 and its two-hundred day moving average is $5.85.

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.

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