Analysts predict that SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) will post $339.77 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for SunOpta’s earnings. The highest sales estimate is $341.20 million and the lowest is $338.33 million. SunOpta posted sales of $348.15 million in the same quarter last year, which suggests a negative year-over-year growth rate of 2.4%. The company is scheduled to issue its next earnings results before the market opens on Wednesday, August 9th.
On average, analysts expect that SunOpta will report full-year sales of $339.77 million for the current year. For the next financial year, analysts expect that the company will post sales of $1.39 billion per share, with estimates ranging from $1.38 billion to $1.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SunOpta.
SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. SunOpta had a negative net margin of 3.95% and a positive return on equity of 0.58%. The business had revenue of $330 million for the quarter, compared to analyst estimates of $344.20 million. During the same period in the previous year, the business posted $0.03 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year.
Several equities analysts have commented on the stock. BidaskClub cut shares of SunOpta from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research cut shares of SunOpta from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Citigroup Inc. lifted their price objective on shares of SunOpta from $8.00 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $8.50 price objective on shares of SunOpta in a research note on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.30.
Shares of SunOpta (NASDAQ:STKL) traded down 1.08% on Monday, hitting $9.15. 209,896 shares of the stock were exchanged. The firm’s market cap is $787.00 million. The firm’s 50 day moving average price is $9.75 and its 200 day moving average price is $8.10. SunOpta has a one year low of $5.35 and a one year high of $10.20.
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In other SunOpta news, insider Jeffrey Gough acquired 15,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were bought at an average price of $8.49 per share, with a total value of $127,350.00. Following the purchase, the insider now directly owns 6,600 shares of the company’s stock, valued at approximately $56,034. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director M Shan Atkins acquired 12,500 shares of the stock in a transaction dated Friday, May 12th. The stock was acquired at an average cost of $8.02 per share, for a total transaction of $100,250.00. Following the purchase, the director now directly owns 25,881 shares in the company, valued at $207,565.62. The disclosure for this purchase can be found here. Insiders bought a total of 257,246 shares of company stock worth $2,071,020 in the last ninety days. Corporate insiders own 1.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of SunOpta by 96.1% in the second quarter. Bank of New York Mellon Corp now owns 145,462 shares of the company’s stock valued at $1,483,000 after buying an additional 71,266 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of SunOpta by 4.6% in the second quarter. Pictet Asset Management Ltd. now owns 559,216 shares of the company’s stock valued at $5,201,000 after buying an additional 24,393 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of SunOpta during the second quarter valued at approximately $6,028,000. Essex Investment Management Co. LLC boosted its position in shares of SunOpta by 27.6% in the second quarter. Essex Investment Management Co. LLC now owns 266,503 shares of the company’s stock valued at $2,718,000 after buying an additional 57,622 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of SunOpta during the second quarter valued at approximately $162,000. 86.66% 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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