Calavo Growers, Inc. (CVGW) Upgraded at BidaskClub

BidaskClub upgraded shares of Calavo Growers, Inc. (NASDAQ:CVGW) from a sell rating to a hold rating in a research note released on Wednesday.

Several other brokerages also recently commented on CVGW. Stephens restated an overweight rating and issued a $85.00 price target (up previously from $75.00) on shares of Calavo Growers in a research report on Friday, June 9th. Zacks Investment Research upgraded shares of Calavo Growers from a hold rating to a strong-buy rating and set a $79.00 price target for the company in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $78.75.

Shares of Calavo Growers (NASDAQ:CVGW) traded up 0.82% on Wednesday, reaching $73.50. The company’s stock had a trading volume of 159,411 shares. Calavo Growers has a 1-year low of $48.75 and a 1-year high of $76.85. The stock has a 50-day moving average of $70.57 and a 200 day moving average of $63.17. The stock has a market capitalization of $1.29 billion, a PE ratio of 31.97 and a beta of 0.62.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Tuesday, June 6th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. The business had revenue of $270.20 million during the quarter, compared to the consensus estimate of $259.79 million. Calavo Growers had a net margin of 3.99% and a return on equity of 18.38%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, equities analysts forecast that Calavo Growers will post $2.45 EPS for the current year.

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In related news, Director Marc Laurence Brown sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total value of $56,325.00. Following the completion of the sale, the director now owns 10,100 shares in the company, valued at approximately $758,510. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen M. Holmgren purchased 1,000 shares of Calavo Growers stock in a transaction that occurred on Thursday, July 6th. The stock was purchased at an average price of $68.00 per share, with a total value of $68,000.00. Following the transaction, the director now owns 2,750 shares in the company, valued at approximately $187,000. The disclosure for this purchase can be found here. 9.90% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of CVGW. Bank of Montreal Can increased its stake in shares of Calavo Growers by 33.9% in the first quarter. Bank of Montreal Can now owns 2,957 shares of the company’s stock valued at $179,000 after buying an additional 748 shares during the period. Highbridge Capital Management LLC bought a new stake in Calavo Growers during the fourth quarter worth about $1,763,000. Teachers Advisors LLC increased its stake in Calavo Growers by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 29,079 shares of the company’s stock worth $1,785,000 after buying an additional 3,361 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Calavo Growers during the fourth quarter worth about $526,000. Finally, Thrivent Financial for Lutherans increased its stake in Calavo Growers by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,230 shares of the company’s stock worth $505,000 after buying an additional 440 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.

Calavo Growers Company Profile

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).

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