SunOpta (STKL) Beats Stock Market Upswing: What Investors Need to Know
The latest trading session saw SunOpta (STKL) ending at $5.97, denoting a +1.53% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.53% for the day. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.19%.
Prior to today's trading, shares of the natural and organic food company had gained 7.3% over the past month. This has outpaced the Consumer Staples sector's gain of 3.27% and the S&P 500's gain of 2.48% in that time.
The upcoming earnings release of SunOpta will be of great interest to investors. The company is forecasted to report an EPS of $0.01, showcasing a 50% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $165.1 million, indicating a 25.39% decline compared to the corresponding quarter of the prior year.
Any recent changes to analyst estimates for SunOpta should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, SunOpta holds a Zacks Rank of #4 (Sell).
Looking at its valuation, SunOpta is holding a Forward P/E ratio of 43.56. Its industry sports an average Forward P/E of 17.31, so one might conclude that SunOpta is trading at a premium comparatively.
The Food - Miscellaneous industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 20% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SunOpta, Inc. (STKL) : Free Stock Analysis Report
