Calavo Growers, Inc. (NASDAQ:CVGW) has received a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $96.80.
Several research analysts recently commented on CVGW shares. BidaskClub upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Lake Street Capital boosted their price objective on shares of Calavo Growers from $94.00 to $104.00 in a research note on Friday, June 7th. ValuEngine upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Zacks Investment Research upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Tuesday, June 4th.
Shares of NASDAQ CVGW traded up $1.53 during trading hours on Thursday, hitting $89.93. 107,600 shares of the stock were exchanged, compared to its average volume of 157,389. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.56 billion, a PE ratio of 31.46 and a beta of 1.03. The firm has a fifty day moving average price of $92.04 and a 200-day moving average price of $89.65. Calavo Growers has a 12 month low of $67.52 and a 12 month high of $108.00.
Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.77 by $0.15. The firm had revenue of $286.00 million during the quarter, compared to analyst estimates of $281.37 million. Calavo Growers had a net margin of 2.84% and a return on equity of 17.76%. Calavo Growers’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 EPS. As a group, equities analysts anticipate that Calavo Growers will post 3.35 earnings per share for the current fiscal year.
In other Calavo Growers news, Director Der Kar Scott Van sold 525 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $95.43, for a total transaction of $50,100.75. Following the sale, the director now owns 1,750 shares of the company’s stock, valued at approximately $167,002.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lecil E. Cole sold 44,263 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $98.08, for a total transaction of $4,341,315.04. Following the sale, the chief executive officer now directly owns 448,628 shares in the company, valued at approximately $44,001,434.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,290 shares of company stock worth $12,459,804. 7.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC grew its position in Calavo Growers by 192.7% during the 1st quarter. Clearbridge Investments LLC now owns 535,428 shares of the company’s stock worth $44,896,000 after purchasing an additional 352,526 shares during the last quarter. Moody Aldrich Partners LLC grew its position in Calavo Growers by 2.7% during the 2nd quarter. Moody Aldrich Partners LLC now owns 65,678 shares of the company’s stock worth $6,354,000 after purchasing an additional 1,747 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in Calavo Growers during the 1st quarter worth approximately $98,000. Copeland Capital Management LLC grew its position in Calavo Growers by 8.1% during the 1st quarter. Copeland Capital Management LLC now owns 301,450 shares of the company’s stock worth $25,276,000 after purchasing an additional 22,465 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Calavo Growers by 44.9% during the 4th quarter. Bank of America Corp DE now owns 68,748 shares of the company’s stock worth $5,016,000 after purchasing an additional 21,318 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors.
About Calavo Growers
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.
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