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

Calavo Growers (NASDAQ:CVGW) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, Lake Street Capital lowered their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Calavo Growers Trading Down 0.9 %

Shares of Calavo Growers stock traded down $0.23 during mid-day trading on Monday, hitting $23.99. The stock had a trading volume of 209,766 shares, compared to its average volume of 206,639. The firm has a 50-day moving average of $23.38 and a two-hundred day moving average of $25.68. The firm has a market cap of $427.91 million, a P/E ratio of -399.83 and a beta of 0.57. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. Calavo Growers has a 12-month low of $20.30 and a 12-month high of $30.58.

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

Institutional Trading of Calavo Growers

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its position in Calavo Growers by 215.5% during the third quarter. Jane Street Group LLC now owns 262,626 shares of the company’s stock worth $7,493,000 after buying an additional 179,395 shares during the period. American Century Companies Inc. grew its position in Calavo Growers by 26.8% during 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 during the last quarter. JPMorgan Chase & Co. increased its stake in Calavo Growers by 221.1% in the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company’s stock valued at $3,533,000 after purchasing an additional 85,272 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Calavo Growers by 104.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 150,960 shares of the company’s stock valued at $3,849,000 after buying an additional 77,220 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Calavo Growers by 363.0% during the fourth quarter. Squarepoint Ops LLC now owns 78,538 shares of the company’s stock worth $2,003,000 after buying an additional 61,574 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.