SunOpta, Inc. (STKL) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS
SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) posted its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02, Morningstar.com reports. SunOpta had a negative net margin of 3.95% and a positive return on equity of 0.58%. The company had revenue of $336.45 million for the quarter, compared to analyst estimates of $341.18 million. During the same quarter last year, the company earned $0.05 EPS. The business’s revenue was down 3.3% compared to the same quarter last year.
Shares of SunOpta (NASDAQ:STKL) traded down 3.296% during trading on Thursday, reaching $8.655. 32,803 shares of the company traded hands. The company’s market capitalization is $744.43 million. SunOpta has a 1-year low of $5.73 and a 1-year high of $10.20. The stock’s 50 day moving average is $9.70 and its 200 day moving average is $8.17.
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Several research firms have recently issued reports on STKL. BidaskClub downgraded shares of SunOpta from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded shares of SunOpta from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. BMO Capital Markets restated a “buy” rating and set a $8.50 price objective on shares of SunOpta in a report on Wednesday, April 26th. Finally, Citigroup Inc. upped their price objective on shares of SunOpta from $8.00 to $11.50 and gave the company a “buy” rating in a report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.30.
In other news, insider Robert Duchscher purchased 5,800 shares of the business’s stock in a transaction on Friday, May 19th. The shares were bought at an average price of $8.94 per share, with a total value of $51,852.00. Following the completion of the transaction, the insider now directly owns 5,800 shares in the company, valued at approximately $51,852. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Oaktree Huntington Investment purchased 223,946 shares of the business’s stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $1,791,568.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 257,246 shares of company stock worth $2,071,020. 1.88% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STKL. Engineers Gate Manager LP purchased a new position in SunOpta during the first quarter valued at approximately $339,000. Engaged Capital LLC raised its position in SunOpta by 3.7% in the first quarter. Engaged Capital LLC now owns 6,756,907 shares of the company’s stock valued at $46,961,000 after buying an additional 241,823 shares during the period. Bank of Montreal Can raised its position in SunOpta by 38.4% in the first quarter. Bank of Montreal Can now owns 1,378,995 shares of the company’s stock worth $9,583,000 after buying an additional 382,377 shares during the last quarter. Gamco Investors INC. ET AL raised its position in SunOpta by 13.0% in the first quarter. Gamco Investors INC. ET AL now owns 27,000 shares of the company’s stock worth $188,000 after buying an additional 3,100 shares during the last quarter. Finally, FMR LLC raised its position in SunOpta by 85.1% in the first quarter. FMR LLC now owns 3,549,446 shares of the company’s stock worth $24,669,000 after buying an additional 1,631,721 shares during the last quarter. 87.41% of the stock is currently owned by institutional investors.
SunOpta Company Profile
Sunopta Inc is a Canada-based company, which operates businesses focused on a healthy products portfolio. It operates through the following segments: Global Ingredients and Consumer Products. The Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains, seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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