Calavo Growers, Inc. (NASDAQ:CVGW) Raised to Hold at BidaskClub

Calavo Growers, Inc. (NASDAQ:CVGW) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, July 19th.

A number of other research analysts also recently issued reports on CVGW. Stephens restated an “overweight” rating and set a $85.00 price target (up previously from $75.00) on shares of Calavo Growers in a research note on Friday, June 9th. Zacks Investment Research upgraded Calavo Growers from a “strong sell” rating to a “hold” rating in a research note on Monday, May 15th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $78.75.

Shares of Calavo Growers (NASDAQ:CVGW) traded down 0.48% on Wednesday, reaching $73.00. 74,737 shares of the company’s stock were exchanged. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 31.75 and a beta of 0.62. The company’s 50 day moving average is $70.81 and its 200-day moving average is $63.70. Calavo Growers has a one year low of $48.75 and a one year high of $76.85.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings data on Tuesday, June 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. Calavo Growers had a return on equity of 18.38% and a net margin of 3.99%. The business had revenue of $270.20 million for the quarter, compared to the consensus estimate of $259.79 million. During the same quarter in the prior year, the business posted $0.56 EPS. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, analysts anticipate that Calavo Growers will post $2.45 EPS for the current year.

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In other news, Director Marc Laurence Brown sold 750 shares of Calavo Growers stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.10, for a total value of $56,325.00. Following the completion of the sale, the director now owns 10,100 shares of the company’s stock, valued at $758,510. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathleen M. Holmgren acquired 1,000 shares of the stock in a transaction dated Thursday, July 6th. The stock was acquired at an average cost of $68.00 per share, with a total value of $68,000.00. Following the transaction, the director now owns 2,750 shares of the company’s stock, valued at $187,000. The disclosure for this purchase can be found here. Insiders own 9.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in Calavo Growers by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 1,690 shares of the company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Victory Capital Management Inc. boosted its position in Calavo Growers by 54.7% in the first quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock worth $126,000 after buying an additional 734 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Calavo Growers by 7.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,169 shares of the company’s stock worth $131,000 after buying an additional 142 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Calavo Growers during the first quarter worth $150,000. Finally, Bank of Montreal Can boosted its position in Calavo Growers by 33.9% in the first quarter. Bank of Montreal Can now owns 2,957 shares of the company’s stock worth $179,000 after buying an additional 748 shares in the last quarter. 82.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Company Profile

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).