Analysts Anticipate SunOpta Inc. (NASDAQ:STKL) Will Post Quarterly Sales of $206.76 Million

Equities analysts forecast that SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) will announce sales of $206.76 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for SunOpta’s earnings, with estimates ranging from $206.00 million to $207.51 million. SunOpta posted sales of $314.98 million during the same quarter last year, which would suggest a negative year over year growth rate of 34.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that SunOpta will report full-year sales of $836.07 million for the current fiscal year, with estimates ranging from $833.34 million to $838.80 million. For the next financial year, analysts anticipate that the business will report sales of $897.83 million, with estimates ranging from $893.56 million to $902.10 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for SunOpta.

A number of research analysts recently commented on the company. Cowen began coverage on SunOpta in a research report on Friday, September 10th. They issued an “outperform” rating and a $15.00 price target on the stock. Zacks Investment Research raised SunOpta from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Saturday, August 14th. Finally, BMO Capital Markets started coverage on SunOpta in a research note on Friday, July 9th. They issued an “outperform” rating and a $15.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.50.

Several large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in shares of SunOpta by 22.1% during the 1st quarter. Toronto Dominion Bank now owns 7,643 shares of the company’s stock valued at $113,000 after purchasing an additional 1,383 shares during the period. Mackenzie Financial Corp boosted its holdings in SunOpta by 10.6% during the 2nd quarter. Mackenzie Financial Corp now owns 22,107 shares of the company’s stock valued at $270,000 after acquiring an additional 2,118 shares during the period. Swiss National Bank boosted its holdings in SunOpta by 1.6% during the 1st quarter. Swiss National Bank now owns 154,925 shares of the company’s stock valued at $2,290,000 after acquiring an additional 2,400 shares during the period. Tradition Wealth Management LLC purchased a new stake in SunOpta during the 2nd quarter valued at about $41,000. Finally, Commonwealth Equity Services LLC lifted its holdings in SunOpta by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 79,397 shares of the company’s stock worth $971,000 after buying an additional 3,414 shares during the period. Institutional investors own 72.52% of the company’s stock.

STKL stock traded up $0.38 during trading hours on Monday, hitting $9.18. 1,084,376 shares of the stock were exchanged, compared to its average volume of 887,035. The company has a current ratio of 2.44, a quick ratio of 0.77 and a debt-to-equity ratio of 0.64. SunOpta has a 12 month low of $6.30 and a 12 month high of $17.07. The firm has a market capitalization of $994.74 million, a P/E ratio of 12.58 and a beta of 1.95. The company has a 50-day simple moving average of $9.81 and a two-hundred day simple moving average of $11.95.

SunOpta Company Profile

SunOpta Inc manufactures and sells plant-based and fruit-based food and beverage products to retail customers, foodservice distributors, branded food companies, and food manufacturers worldwide. The company operates through two segments, Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages.

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