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

Shares of Calavo Growers, Inc. (NASDAQ:CVGW) have been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two investment 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 updated their coverage on the stock in the last year is $95.40.

Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Tuesday. Vertical Group upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Thursday, April 4th. TheStreet cut shares of Calavo Growers from a “b” rating to a “c” rating in a research note on Thursday, January 3rd. Lake Street Capital set a $94.00 target price on shares of Calavo Growers and gave the company a “buy” rating in a research note on Friday, December 21st. Finally, BidaskClub cut shares of Calavo Growers from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th.

NASDAQ CVGW opened at $89.70 on Friday. The firm has a market cap of $1.56 billion, a P/E ratio of 36.02 and a beta of 0.94. 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 quarterly earnings data on Thursday, March 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.24. The business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $257.86 million. Calavo Growers had a net margin of 2.70% and a return on equity of 17.32%. Calavo Growers’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, analysts anticipate that Calavo Growers will post 3.17 earnings per share for the current year.

In other news, Director Michael Anthony Digregorio sold 1,750 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $84.02, for a total value of $147,035.00. Following the completion of the transaction, the director now owns 11,750 shares in the company, valued at approximately $987,235. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Marc Laurence Brown sold 1,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $85.07, for a total transaction of $85,070.00. Following the completion of the transaction, the director now owns 14,750 shares of the company’s stock, valued at approximately $1,254,782.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,437 shares of company stock valued at $2,806,922. Corporate insiders own 7.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Calavo Growers by 0.3% during the 4th quarter. Legal & General Group Plc now owns 37,095 shares of the company’s stock worth $2,708,000 after purchasing an additional 127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Calavo Growers by 26.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 969 shares of the company’s stock worth $71,000 after purchasing an additional 204 shares in the last quarter. LPL Financial LLC increased its position in shares of Calavo Growers by 2.9% during the 4th quarter. LPL Financial LLC now owns 9,391 shares of the company’s stock worth $685,000 after purchasing an additional 267 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Calavo Growers by 0.6% during the 4th quarter. Eagle Asset Management Inc. now owns 50,401 shares of the company’s stock worth $3,677,000 after purchasing an additional 297 shares in the last quarter. Finally, Advisor Group Inc. increased 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 worth $452,000 after purchasing an additional 320 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

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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