Mission Produce (NASDAQ:AVO) posted its earnings results on Sunday. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03), MarketWatch Earnings reports.
Shares of AVO stock traded down $2.01 during trading hours on Tuesday, reaching $18.47. The company had a trading volume of 550,779 shares, compared to its average volume of 206,512. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.84 and a current ratio of 2.51. The stock has a fifty day moving average of $19.75 and a 200-day moving average of $20.20. The company has a market capitalization of $1.30 billion and a price-to-earnings ratio of 23.68. Mission Produce has a 12-month low of $11.75 and a 12-month high of $22.93.
Separately, Zacks Investment Research cut Mission Produce from a “buy” rating to a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.14.
Several hedge funds and other institutional investors have recently made changes to their positions in AVO. Morgan Stanley raised its stake in Mission Produce by 256.5% in the second quarter. Morgan Stanley now owns 182,325 shares of the company’s stock valued at $3,775,000 after buying an additional 131,185 shares in the last quarter. Invesco Ltd. acquired a new stake in Mission Produce in the second quarter valued at $278,000. Finally, Royal Bank of Canada raised its stake in Mission Produce by 49.2% in the second quarter. Royal Bank of Canada now owns 5,694 shares of the company’s stock valued at $118,000 after buying an additional 1,877 shares in the last quarter. Institutional investors and hedge funds own 18.25% of the company’s stock.
Mission Produce Company Profile
Mission Produce, Inc engages in sourcing, producing, and distributing avocados in the United States and internationally. The company operates through two segments, Marketing and Distribution, and International Farming. It serves retail, wholesale, and foodservice customers. The company was founded in 1983 and is headquartered in Oxnard, California.
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