Calavo Growers, Inc. (NASDAQ:CVGW) Given Average Recommendation of “Buy” by Brokerages

Shares of Calavo Growers, Inc. (NASDAQ:CVGW) have received an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $96.80.

Several equities research analysts recently commented on the stock. BidaskClub raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Tuesday, April 9th. ValuEngine raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Vertical Group raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Thursday, April 4th. Finally, Lake Street Capital boosted their price target on shares of Calavo Growers from $94.00 to $104.00 in a report on Friday, June 7th.

NASDAQ:CVGW opened at $94.87 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.94 and a current ratio of 1.39. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 38.10 and a beta of 1.03. The company’s 50 day moving average price is $94.43. Calavo Growers has a 1-year low of $67.52 and a 1-year high of $108.00.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Thursday, June 6th. The company reported $0.92 earnings per share for the quarter, beating 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%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. As a group, equities research analysts forecast that Calavo Growers will post 2.74 EPS for the current year.

In other news, CFO Bruce John Lindeman sold 3,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $97.90, for a total transaction of $293,700.00. Following the completion of the sale, the chief financial officer now owns 11,449 shares of the company’s stock, valued at $1,120,857.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael A. Browne sold 3,677 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $82.79, for a total transaction of $304,418.83. Following the sale, the vice president now directly owns 9,884 shares of the company’s stock, valued at approximately $818,296.36. The disclosure for this sale can be found here. In the last three months, insiders sold 70,009 shares of company stock valued at $6,790,806. 7.30% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Calavo Growers by 22.8% during the 4th quarter. Rhumbline Advisers now owns 44,934 shares of the company’s stock valued at $3,278,000 after acquiring an additional 8,341 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Calavo Growers by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 667,196 shares of the company’s stock valued at $48,679,000 after acquiring an additional 9,782 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Calavo Growers by 6.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 21,473 shares of the company’s stock valued at $1,446,000 after acquiring an additional 1,320 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Calavo Growers during the 4th quarter valued at about $330,000. Finally, Advisor Group Inc. boosted its position in shares of Calavo Growers by 5.5% during the 4th quarter. Advisor Group Inc. now owns 6,188 shares of the company’s stock valued at $452,000 after acquiring an additional 320 shares during the last quarter. 87.61% of the stock is owned by institutional investors and hedge funds.

Calavo Growers Company Profile

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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