Brokerages Set Calavo Growers, Inc. (CVGW) Target Price at $95.40

Calavo Growers, Inc. (NASDAQ:CVGW) has been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $95.40.

CVGW has been the subject of a number of research analyst reports. Lake Street Capital set a $94.00 target price on Calavo Growers and gave the company a “buy” rating in a report on Friday, December 21st. TheStreet lowered Calavo Growers from a “b” rating to a “c” rating in a report on Thursday, January 3rd. Stephens assumed coverage on Calavo Growers in a report on Tuesday, January 8th. They set an “overweight” rating and a $88.00 price objective for the company. BidaskClub upgraded Calavo Growers from a “sell” rating to a “hold” rating in a report on Saturday, March 16th. Finally, Vertical Group upgraded Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Thursday, April 4th.

Shares of CVGW traded down $0.73 during mid-day trading on Friday, reaching $92.57. The company’s stock had a trading volume of 7,139 shares, compared to its average volume of 151,573. The firm has a market capitalization of $1.63 billion, a P/E ratio of 37.18 and a beta of 0.94. Calavo Growers has a 1 year low of $67.52 and a 1 year high of $108.00.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Thursday, March 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.24. The company had revenue of $258.00 million during the quarter, compared to analyst estimates of $257.86 million. Calavo Growers had a return on equity of 17.32% and a net margin of 2.70%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities analysts expect that Calavo Growers will post 3.17 earnings per share for the current year.

In related news, insider James E. Gibson sold 5,770 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.20, for a total transaction of $474,294.00. Following the completion of the sale, the insider now directly owns 52,150 shares in the company, valued at $4,286,730. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Marc Laurence Brown sold 1,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $85.07, for a total value of $85,070.00. Following the sale, the director now owns 14,750 shares of the company’s stock, valued at $1,254,782.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,437 shares of company stock valued at $2,806,922. 7.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC increased its position in Calavo Growers by 21.1% during the third quarter. Teachers Advisors LLC now owns 35,689 shares of the company’s stock worth $3,448,000 after buying an additional 6,220 shares during the last quarter. Rhumbline Advisers increased its position in Calavo Growers by 22.8% during the fourth quarter. Rhumbline Advisers now owns 44,934 shares of the company’s stock worth $3,278,000 after buying an additional 8,341 shares during the last quarter. Sawgrass Asset Management LLC acquired a new position in Calavo Growers during the third quarter worth $337,000. Dimensional Fund Advisors LP increased its position in Calavo Growers by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 667,196 shares of the company’s stock worth $48,679,000 after buying an additional 9,782 shares during the last quarter. Finally, Vanguard Group Inc increased its position in Calavo Growers by 10.4% during the third quarter. Vanguard Group Inc now owns 1,112,251 shares of the company’s stock worth $107,443,000 after buying an additional 104,740 shares during the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

Calavo Growers Company Profile

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. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.

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