Calavo Growers (CVGW) Lifted to “Strong-Buy” at BidaskClub

Calavo Growers (NASDAQ:CVGW) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday.

A number of other analysts have also recently weighed in on the stock. Stephens increased their price target on shares of Calavo Growers from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. Lake Street Capital restated a “buy” rating and issued a $91.00 target price (up previously from $76.00) on shares of Calavo Growers in a research note on Wednesday, December 20th. Finally, Zacks Investment Research upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $88.00.

Shares of Calavo Growers (NASDAQ CVGW) opened at $89.25 on Friday. The firm has a market cap of $1,547.30, a price-to-earnings ratio of 40.67 and a beta of 0.68. Calavo Growers has a 52 week low of $48.75 and a 52 week high of $90.85.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.09. The firm had revenue of $277.20 million during the quarter, compared to analysts’ expectations of $297.40 million. Calavo Growers had a net margin of 3.47% and a return on equity of 16.01%. Calavo Growers’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. research analysts expect that Calavo Growers will post 2.96 earnings per share for the current year.

In other news, insider James E. Gibson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the sale, the insider now owns 61,991 shares in the company, valued at approximately $4,905,967.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc Laurence Brown sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $85.05, for a total transaction of $85,050.00. Following the completion of the sale, the director now owns 9,600 shares of the company’s stock, valued at approximately $816,480. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Calavo Growers by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,525 shares of the company’s stock worth $864,000 after acquiring an additional 341 shares during the period. Chicago Equity Partners LLC lifted its stake in shares of Calavo Growers by 3.6% in the 4th quarter. Chicago Equity Partners LLC now owns 16,995 shares of the company’s stock worth $1,434,000 after acquiring an additional 595 shares during the period. American International Group Inc. lifted its stake in shares of Calavo Growers by 6.2% in the 3rd quarter. American International Group Inc. now owns 12,666 shares of the company’s stock worth $927,000 after acquiring an additional 738 shares during the period. Legal & General Group Plc lifted its stake in shares of Calavo Growers by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 28,700 shares of the company’s stock worth $2,101,000 after acquiring an additional 796 shares during the period. Finally, Meadow Creek Investment Management LLC increased its holdings in shares of Calavo Growers by 34.7% in the 4th quarter. Meadow Creek Investment Management LLC now owns 3,434 shares of the company’s stock valued at $290,000 after purchasing an additional 884 shares in the last quarter. Institutional investors own 92.54% of the company’s stock.

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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).

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