This change is promising, but it’s crucial to proceed with caution to see how SunOpta will use the proceeds from the transaction and navigate the competitive market. It’s important to note that the company’s revenue and EBITDA have been declining over the past five quarters, and they expect a weaker FY 2023 than the previous year. Because of this, I recommend a “wait and see” approach, closely monitoring how these best 15 niche places to find developers online changes affect the company’s performance before making any buying decisions, and therefore suggesting a “hold” stance. The recent sale of its frozen fruit business for $141 million is part of SunOpta’s ongoing strategy to streamline its portfolio and concentrate on its core business. SunOpta’s goal is to become a prominent manufacturer of value-added products in the plant-based and healthy snack industries.
- The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries.
- The company provided earnings per share guidance of for the period.
- In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest.
- When compared to its market peers, it becomes evident that SunOpta’s gross profit margin lags behind its competitors.
Sign-up to receive the latest news and ratings for SunOpta and its competitors with MarketBeat’s FREE daily newsletter. SunOpta’s Q3 earnings are confirmed for Wednesday, November 8, 2023. Key Insights Institutions’ substantial holdings in SunOpta implies that they have significant influence over the… SunOpta (STKL) has been one of the stocks most watched by Zacks.com users lately. The table below shows STKL’s growth in key financial areas (numbers in millions of US dollars). Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment.
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SunOpta is a company that has expanded primarily by acquiring businesses that make and sell sustainable, plant-based, and fruit-based food and drinks. They supply these products to retailers, foodservice providers, well-known food brands, and food manufacturers in the United States, Canada, and around the world. According to 4 analysts, the average rating for STKL stock is “Strong Buy.” The 12-month stock price forecast is $9.25, which is an increase of 160.56% from the latest price. For FY 2023, the company maintained its outlook as communicated on the second quarter earnings call, adjusting for the sale of the frozen assets. The company’s prior outlook was for revenue of $880 million-$900 million and adjusted EBITDA at $87 million-$91 million.
Current price change has pushed the stock -66.11% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the STKL stock continues to rise going into the next quarter. The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.
- Additionally, divestitures like the one in question can have unintended consequences.
- SunOpta (STKL) closed at $3.24 in the latest trading session, marking a -1.22% move from the prior day.
- SunOpta’s Q3 earnings are confirmed for Wednesday, November 8, 2023.
- The estimated total revenue from ongoing operations is expected to reach around $152 million, with anticipated adjusted EBITDA ranging from $18.5 million to $19 million.
- Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
SunOpta Enters Nutritional Beverage Category via Partnership with BellRing Brands
Since then, STKL stock has decreased by 57.9% and is now trading at $3.55. /PRNewswire/ — USA News Group – The current global food crisis continues to build momentum, as reports of food shortages are coming out of more than 13… U.S. stocks traded mostly higher, with the Dow Jones gaining more than 100 points on Friday. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.
In the market, a comparison of Sunopta Inc. (STKL) and its peers suggest the former has performed considerably weaker. Data shows STKL’s intraday price has changed -4.35% in last session and -70.15% over the past year. Comparatively, Post Holdings Inc (POST) has moved -4.13% on the day and only -5.36% in the past 12 months. Looking at another peer, we see that Ingredion Inc (INGR) price has dipped -2.76% on the day.
The company operates through Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages segments. This segment also provides fruit snacks comprising axitrader review bars, twists, ropes, and bite-sized products. The company was formerly known as Stake Technology Ltd. and changed its name to SunOpta Inc. in October 2003.
In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. SunOpta issued an update on its third quarter 2023 earnings guidance on Friday, October, 13th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $152.00 million-$152.00 million, compared to the consensus revenue estimate of $220.17 million.
View analysts price targets for STKL or view top-rated stocks among Wall Street analysts. 4 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for SunOpta in the last twelve months. The consensus among Wall Street research analysts is that investors should “buy” STKL shares. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year.
There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation fxpcm or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. SunOpta’s stock is owned by many different retail and institutional investors.
SunOpta started at outperform with $15 stock price target at BMO Capital
Its annual revenue has remained fairly stagnant over the last five financial years, and costly acquisition decisions have negatively impacted its financial performance. While the company began divesting non-core businesses in 2017, substantial improvements in both revenue and profitability have yet to materialize. In the past five quarters, SunOpta has experienced a downward trend in revenue and EBITDA.
Earnings and Valuation
Top institutional investors include SG Americas Securities LLC (0.23%), Legato Capital Management LLC (0.15%) and Granite Bay Wealth Management LLC (0.06%). The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023. SunOpta (STKL) closed the most recent trading day at $3.37, moving +0.6% from the previous trading session. SunOpta (STKL) closed at $3.24 in the latest trading session, marking a -1.22% move from the prior day. Below are the latest news stories about SUNOPTA INC that investors may wish to consider to help them evaluate STKL as an investment opportunity.
SunOpta Analyst Opinions
Analysts project the company’s earnings per share (EPS) to be -$0.01, which has seen fiscal year 2023 EPS growth forecast to increase to $0.01 and about $0.1 for fiscal year 2024. Per the data, EPS growth is expected to be -87.50% for 2023 and 900.00% for the next financial year. This move will help reduce our net leverage from the previous quarter’s 3.7 times to 3.2 times when we consider the seller notes being collected. SunOpta has also released its initial projections for the third quarter. The estimated total revenue from ongoing operations is expected to reach around $152 million, with anticipated adjusted EBITDA ranging from $18.5 million to $19 million. While this divestiture brings in cash, it might result in short-term sales reduction.
SunOpta Shares Jump After Exit From Frozen Fruit
The company disclosed selling certain frozen fruit assets to Nature’s Touch for $141 million. The 3.88% of Sunopta Inc.’s shares are in the hands of company insiders while institutional holders own 83.60% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.86 million on Sep 28, 2023, giving us a short ratio of 7.53. The data shows that as of Sep 28, 2023 short interest in Sunopta Inc. (STKL) stood at 5.93% of shares outstanding, with shares short rising to 5.68 million registered in Aug 30, 2023.
Data may be intentionally delayed pursuant to supplier requirements. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. The scores are based on the trading styles of Value, Growth, and Momentum.