BidaskClub Lowers Calavo Growers (CVGW) to Hold

Calavo Growers (NASDAQ:CVGW) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts also recently commented on the company. Lake Street Capital reaffirmed a “buy” rating and set a $91.00 price target (up from $76.00) on shares of Calavo Growers in a research report on Wednesday, December 20th. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, February 27th. Stephens raised their target price on Calavo Growers from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 20th. Buckingham Research reissued a “buy” rating and issued a $95.00 target price (up from $88.00) on shares of Calavo Growers in a research report on Thursday, March 8th. Finally, ValuEngine raised Calavo Growers from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Calavo Growers presently has an average rating of “Buy” and a consensus target price of $96.25.

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Shares of CVGW opened at $91.10 on Friday. The company has a market cap of $1,598.17, a P/E ratio of 42.77 and a beta of 0.64. Calavo Growers has a 12 month low of $61.05 and a 12 month high of $97.83.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Wednesday, March 7th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.11. The company had revenue of $247.90 million during the quarter, compared to the consensus estimate of $272.89 million. Calavo Growers had a return on equity of 16.95% and a net margin of 3.57%. Calavo Growers’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. research analysts anticipate that Calavo Growers will post 3.17 EPS for the current fiscal year.

In other Calavo Growers news, VP Michael A. Browne sold 6,500 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $92.15, for a total value of $598,975.00. Following the completion of the sale, the vice president now directly owns 13,117 shares of the company’s stock, valued at $1,208,731.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Link Leavens sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $92.31, for a total value of $692,325.00. Following the completion of the sale, the director now directly owns 92,528 shares of the company’s stock, valued at $8,541,259.68. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB purchased a new position in shares of Calavo Growers in the fourth quarter valued at $224,000. Envestnet Asset Management Inc. grew its position in shares of Calavo Growers by 10.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,568 shares of the company’s stock valued at $891,000 after purchasing an additional 965 shares in the last quarter. Probabilities Fund Management LLC purchased a new position in shares of Calavo Growers in the fourth quarter valued at $885,000. MetLife Investment Advisors LLC purchased a new position in shares of Calavo Growers in the fourth quarter valued at $621,000. Finally, Gotham Asset Management LLC purchased a new position in shares of Calavo Growers in the fourth quarter valued at $688,000. 89.78% of the stock is owned by institutional investors and hedge funds.

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About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.

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