Jefferies Financial Group Increases Calavo Growers (NASDAQ:CVGW) Price Target to $75.00


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Calavo Growers (NASDAQ:CVGW) had its price target raised by equities researchers at Jefferies Financial Group from $65.00 to $75.00 in a research note issued on Tuesday, The Fly reports. Jefferies Financial Group’s price objective points to a potential upside of 5.86% from the stock’s current price.

CVGW has been the subject of a number of other research reports. Zacks Investment Research upgraded Calavo Growers from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 1st. Lake Street Capital cut Calavo Growers from a “buy” rating to a “hold” rating in a report on Tuesday, December 22nd. BidaskClub raised Calavo Growers from a “sell” rating to a “hold” rating in a report on Thursday, January 7th. Finally, National Securities initiated coverage on Calavo Growers in a report on Thursday, October 29th. They issued a “buy” rating and a $85.00 target price for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $73.20.

CVGW opened at $70.85 on Tuesday. The company has a market cap of $1.25 billion, a PE ratio of -90.83 and a beta of 0.85. The stock has a 50-day moving average of $71.65 and a 200-day moving average of $66.81. Calavo Growers has a 52-week low of $48.31 and a 52-week high of $81.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.28.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Sunday, December 20th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.30). Calavo Growers had a negative net margin of 1.29% and a positive return on equity of 9.86%. The business had revenue of $234.43 million for the quarter, compared to the consensus estimate of $256.07 million. During the same quarter in the previous year, the company earned $0.45 EPS. Calavo Growers’s revenue for the quarter was down 19.8% compared to the same quarter last year. On average, research analysts predict that Calavo Growers will post 2.6 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Calavo Growers by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,171,953 shares of the company’s stock valued at $73,727,000 after purchasing an additional 46,258 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in Calavo Growers by 6.7% during the 2nd quarter. Stephens Investment Management Group LLC now owns 777,046 shares of the company’s stock valued at $48,884,000 after purchasing an additional 48,900 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Calavo Growers by 1.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 198,691 shares of the company’s stock valued at $12,500,000 after purchasing an additional 3,699 shares in the last quarter. Bank of America Corp DE increased its holdings in Calavo Growers by 57.0% during the 2nd quarter. Bank of America Corp DE now owns 153,551 shares of the company’s stock valued at $9,661,000 after purchasing an additional 55,777 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Calavo Growers by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 153,142 shares of the company’s stock valued at $10,149,000 after purchasing an additional 877 shares in the last quarter. 81.23% of the stock is owned by hedge funds and other institutional investors.

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 worldwide. It operates in three segments: Fresh Products, Calavo Foods, and Renaissance Food Group (RFG).

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