Buckingham Research cut shares of Calavo Growers (NASDAQ:CVGW) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm currently has $98.00 target price on the stock. The analysts noted that the move was a valuation call.
Several other equities research analysts have also issued reports on CVGW. BidaskClub raised shares of Calavo Growers from a sell rating to a hold rating in a report on Tuesday, June 19th. Zacks Investment Research raised shares of Calavo Growers from a sell rating to a hold rating in a report on Tuesday, August 14th. Finally, Vertical Group lowered shares of Calavo Growers from a buy rating to a hold rating in a report on Tuesday, August 7th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Calavo Growers currently has a consensus rating of Buy and a consensus price target of $101.50.
NASDAQ:CVGW opened at $107.10 on Tuesday. The firm has a market cap of $1.83 billion, a P/E ratio of 50.28 and a beta of 0.53. Calavo Growers has a one year low of $67.25 and a one year high of $107.60.
Calavo Growers (NASDAQ:CVGW) last released its earnings results on Wednesday, September 5th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The firm had revenue of $296.50 million during the quarter, compared to analysts’ expectations of $305.12 million. Calavo Growers had a net margin of 4.04% and a return on equity of 18.68%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. equities analysts predict that Calavo Growers will post 2.97 earnings per share for the current year.
In other Calavo Growers news, Director John M. Hunt sold 12,500 shares of the business’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $87.63, for a total value of $1,095,375.00. Following the sale, the director now owns 29,000 shares of the company’s stock, valued at approximately $2,541,270. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Der Kar Scott Van sold 1,100 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $95.01, for a total transaction of $104,511.00. Following the completion of the sale, the director now directly owns 650 shares in the company, valued at approximately $61,756.50. The disclosure for this sale can be found here. Insiders sold a total of 20,828 shares of company stock worth $1,885,664 in the last three months. Insiders own 8.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. We Are One Seven LLC increased its holdings in Calavo Growers by 799.4% in the 1st quarter. We Are One Seven LLC now owns 1,430 shares of the company’s stock valued at $132,000 after buying an additional 1,271 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Calavo Growers in the 2nd quarter worth about $144,000. SG Americas Securities LLC bought a new stake in shares of Calavo Growers in the 1st quarter worth about $142,000. Cim LLC bought a new stake in shares of Calavo Growers in the 2nd quarter worth about $206,000. Finally, Amalgamated Bank bought a new stake in shares of Calavo Growers in the 1st quarter worth about $212,000. 91.87% of the stock is currently owned by hedge funds and other institutional investors.
Calavo Growers Company Profile
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.
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