Calavo Growers, Inc. (CVGW) Rating Increased to Hold at Zacks Investment Research
Calavo Growers, Inc. (NASDAQ:CVGW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Calavo Growers, Inc. is a global avocado-industry leader and an expanding provider of value-added fresh food. The company also procures and markets diversified fresh produce items, ranging from tomatoes to tropical produce. 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 Mexico, as well as various other commodities, including tomatoes, papayas, and pineapples. The Calavo Foods segment is involved in purchasing, manufacturing, and distributing prepared products, including guacamole and salsa. The RFG segment produces, markets, and distributes fresh-cut fruits, ready-to-eat vegetables, recipe-ready vegetables, and deli products. The company offers its products primarily under the Calavo and RFG brands, and related logos; and Avo Fresco, Bueno, Calavo Gold, Calavo Salsa Lisa, Salsa Lisa, Celebrate the Taste, El Dorado, Fresh Ripe, Select etc. “
Several other equities research analysts also recently commented on CVGW. BidaskClub downgraded shares of Calavo Growers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Buckingham Research decreased their target price on shares of Calavo Growers from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $79.40.
Calavo Growers (CVGW) traded down $1.20 during trading hours on Tuesday, hitting $69.35. 61,505 shares of the stock traded hands, compared to its average volume of 97,285. The company has a market capitalization of $1,230.00, a P/E ratio of 33.86 and a beta of 0.64. Calavo Growers has a one year low of $48.75 and a one year high of $76.85.
Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Wednesday, September 6th. The company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $301.65 million during the quarter, compared to the consensus estimate of $278.66 million. Calavo Growers had a net margin of 3.46% and a return on equity of 16.07%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. equities research analysts expect that Calavo Growers will post 2.05 EPS for the current year.
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In related news, insider James E. Snyder sold 750 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total transaction of $52,642.50. Following the transaction, the insider now directly owns 11,095 shares in the company, valued at $778,758.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.90% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in CVGW. Parametric Portfolio Associates LLC boosted its holdings in Calavo Growers by 11.1% during the first quarter. Parametric Portfolio Associates LLC now owns 13,554 shares of the company’s stock worth $821,000 after purchasing an additional 1,357 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Calavo Growers by 23.7% in the first quarter. OppenheimerFunds Inc. now owns 12,013 shares of the company’s stock valued at $728,000 after acquiring an additional 2,301 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Calavo Growers by 3.4% in the first quarter. Principal Financial Group Inc. now owns 126,111 shares of the company’s stock valued at $7,642,000 after acquiring an additional 4,119 shares during the last quarter. Teachers Advisors LLC boosted its stake in Calavo Growers by 681.4% in the first quarter. Teachers Advisors LLC now owns 227,223 shares of the company’s stock valued at $13,770,000 after acquiring an additional 198,144 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake 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 valued at $131,000 after acquiring an additional 142 shares during the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.
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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