Calavo Growers, Inc. (CVGW) Receives Consensus Rating of “Buy” from Analysts

Shares of Calavo Growers, Inc. (NASDAQ:CVGW) have been assigned an average rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $79.50.

A number of brokerages have recently commented on CVGW. BidaskClub downgraded Calavo Growers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “strong-buy” rating and set a $79.00 price objective for the company in a research report on Wednesday, June 28th. Stephens reissued an “overweight” rating and set a $85.00 price objective (up from $75.00) on shares of Calavo Growers in a research report on Friday, June 9th. Finally, Buckingham Research lowered their price objective on Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, August 18th.

In other news, Director Marc Laurence Brown sold 750 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was 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 directly owns 10,100 shares of the company’s stock, valued at $758,510. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kathleen M. Holmgren acquired 1,000 shares of the stock in a transaction dated Thursday, July 6th. The shares were bought at an average cost of $68.00 per share, with a total value of $68,000.00. Following the completion of the transaction, the director now owns 2,750 shares of the company’s stock, valued at approximately $187,000. The disclosure for this purchase can be found here. Insiders own 9.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in 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 valued at $102,000 after purchasing an additional 30 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in Calavo Growers by 561.8% in the second quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock valued at $122,000 after purchasing an additional 1,500 shares in the last quarter. SG Americas Securities LLC acquired a new position in Calavo Growers in the second quarter valued at approximately $128,000. Pinebridge Investments L.P. boosted its holdings in Calavo Growers by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock valued at $140,000 after purchasing an additional 29 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Calavo Growers by 54.7% in the first quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock valued at $126,000 after purchasing an additional 734 shares in the last quarter. 86.93% of the stock is owned by institutional investors and hedge funds.

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Shares of Calavo Growers (CVGW) traded down 0.14% on Tuesday, reaching $69.00. 48,481 shares of the company’s stock traded hands. The firm’s 50 day moving average is $71.24 and its 200 day moving average is $66.67. Calavo Growers has a 52 week low of $48.75 and a 52 week high of $76.85. The firm has a market capitalization of $1.21 billion, a P/E ratio of 30.01 and a beta of 0.66.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. Calavo Growers had a net margin of 3.46% and a return on equity of 16.07%. The company had revenue of $301.65 million for the quarter, compared to analyst estimates of $278.66 million. During the same period in the prior year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Analysts expect that Calavo Growers will post $2.06 earnings per share for the current fiscal year.

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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