Zacks Investment Research downgraded shares of Calavo Growers, Inc. (NASDAQ:CVGW) from a buy rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “Calavo Growers, Inc. engages in the procurement and marketing of avocados and other perishable foods and the preparation and distribution of processed avocado products. Their expertise in marketing and distributing avocado, processed avocado, and other perishable foods allows them to deliver a wide array of fresh and processed food products to food distributors, produce wholesalers, supermarkets, and restaurants on a worldwide basis. “
CVGW has been the subject of a number of other research reports. BidaskClub upgraded shares of Calavo Growers from a hold rating to a buy rating in a research note on Friday, June 9th. Buckingham Research decreased their price target on shares of Calavo Growers from $83.00 to $82.00 and set a buy rating for the company in a research note on Friday. Finally, Stephens reiterated an overweight rating and set a $85.00 price target (up previously from $75.00) on shares of Calavo Growers in a research note on Friday, June 9th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $79.40.
Calavo Growers (CVGW) opened at 70.00 on Friday. The company’s 50 day moving average is $71.55 and its 200 day moving average is $65.53. Calavo Growers has a one year low of $48.75 and a one year high of $76.85. The stock has a market cap of $1.23 billion, a PE ratio of 30.45 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. The firm had revenue of $270.20 million during the quarter, compared to analysts’ expectations of $259.79 million. Calavo Growers had a net margin of 3.99% and a return on equity of 18.38%. Calavo Growers’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. On average, equities research analysts expect that Calavo Growers will post $2.23 EPS for the current year.
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In other Calavo Growers news, Director Marc Laurence Brown sold 750 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total transaction of $56,325.00. Following the completion of the transaction, 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 link. Also, Director Kathleen M. Holmgren acquired 1,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were 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.
Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in shares of Calavo Growers by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 1,690 shares of the company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Calavo Growers by 561.8% in the second quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock worth $122,000 after buying an additional 1,500 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Calavo Growers during the second quarter worth about $128,000. Pinebridge Investments L.P. increased its position in shares of Calavo Growers by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after buying an additional 29 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Calavo Growers by 54.7% in the first quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock worth $126,000 after buying an additional 734 shares in the last quarter. Institutional investors own 83.64% 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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