Calavo Growers (NASDAQ:CVGW) Upgraded to “Buy” at StockNews.com

Calavo Growers (NASDAQ:CVGW) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Lake Street Capital cut their price objective on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

Calavo Growers Stock Down 1.4 %

NASDAQ CVGW traded down $0.31 on Thursday, hitting $21.47. The stock had a trading volume of 334,301 shares, compared to its average volume of 197,206. The business’s fifty day moving average price is $23.48 and its 200 day moving average price is $25.74. The stock has a market cap of $382.17 million, a price-to-earnings ratio of -357.83 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. Calavo Growers has a 52-week low of $20.30 and a 52-week high of $30.58.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The business had revenue of $169.96 million for the quarter, compared to analysts’ expectations of $161.99 million. During the same quarter last year, the firm earned ($0.33) earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts anticipate that Calavo Growers will post 1.87 earnings per share for the current year.

Institutional Investors Weigh In On Calavo Growers

A number of large investors have recently bought and sold shares of the company. Nuance Investments LLC boosted its position in Calavo Growers by 1.6% in the fourth quarter. Nuance Investments LLC now owns 1,663,515 shares of the company’s stock valued at $42,420,000 after buying an additional 26,546 shares during the last quarter. Vanguard Group Inc. boosted its position in Calavo Growers by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 1,148,505 shares of the company’s stock worth $29,287,000 after purchasing an additional 22,777 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Calavo Growers by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 698,701 shares of the company’s stock worth $17,817,000 after purchasing an additional 34,263 shares in the last quarter. American Century Companies Inc. boosted its position in Calavo Growers by 26.8% in the 4th quarter. American Century Companies Inc. now owns 445,817 shares of the company’s stock worth $11,368,000 after purchasing an additional 94,221 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Calavo Growers by 6.9% in the 4th quarter. Russell Investments Group Ltd. now owns 335,914 shares of the company’s stock worth $8,566,000 after purchasing an additional 21,584 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

About Calavo Growers

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 through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.