SunOpta (NASDAQ:STKL) Trading 13.3% Higher 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.

Shares of SunOpta, Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY shot up 13.3% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $6.30 and last traded at $5.88. 474,858 shares traded hands during mid-day trading, a decline of 45% from the average session 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 positive return on equity of 12.82% and a negative net margin of 0.66%. 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 related news, CEO Brian W. Kocher purchased 10,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were 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 owned 10,000 shares of the company's stock, valued at $57,200. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On SunOpta

A number of institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of SunOpta in the 4th quarter worth about $36,000. Bank of Montreal Can acquired a new position in SunOpta in the 2nd quarter valued at about $68,000. EP Wealth Advisors LLC lifted its stake in SunOpta by 11.9% in the first quarter. EP Wealth Advisors LLC now owns 16,477 shares of the company's stock valued at $80,000 after buying an additional 1,747 shares during the last quarter. State of Wyoming acquired a new stake in SunOpta in the first quarter valued at $81,000. Finally, Bayesian Capital Management LP raised its holdings in shares of SunOpta by 15.2% in the 4th quarter. Bayesian Capital Management LP now owns 11,536 shares of the company's stock worth $89,000 after purchasing an additional 1,523 shares during the period. 85.39% of the stock is owned by institutional investors.

SunOpta Stock Up 0.1%

The stock has a fifty day moving average price of $6.04 and a two-hundred day moving average price of $5.81. The firm has a market capitalization of $736.39 million, a P/E ratio of -104.42 and a beta of 1.32. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.39 and a current ratio of 0.96.

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.