Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Calavo Growers (CVGW) Share Price
News stories about Calavo Growers (NASDAQ:CVGW) have trended somewhat positive this week, according to Accern. The research group ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Calavo Growers earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 46.4667676028536 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Shares of Calavo Growers (CVGW) traded down 1.52% during mid-day trading on Wednesday, reaching $67.95. The company had a trading volume of 150,109 shares. Calavo Growers has a 12-month low of $48.75 and a 12-month high of $76.85. The stock has a market capitalization of $1.19 billion, a P/E ratio of 29.56 and a beta of 0.62. The firm’s 50 day moving average is $71.62 and its 200-day moving average is $65.78.
Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Tuesday, June 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.08. The firm had revenue of $270.20 million for the quarter, compared to analysts’ expectations of $259.79 million. Calavo Growers had a net margin of 3.99% and a return on equity of 18.38%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, analysts expect that Calavo Growers will post $2.12 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on CVGW. Zacks Investment Research upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research report on Tuesday. Buckingham Research lowered their price objective on Calavo Growers from $83.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, August 18th. BidaskClub upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Stephens restated an “overweight” rating and set a $85.00 price objective (up from $75.00) on shares of Calavo Growers in a research report on Friday, June 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $79.40.
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In other news, Director Kathleen M. Holmgren bought 1,000 shares of Calavo Growers stock in a transaction that occurred on Thursday, July 6th. The shares were acquired at an average price of $68.00 per share, with a total value of $68,000.00. Following the completion of the purchase, the director now directly owns 2,750 shares in the company, valued at $187,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marc Laurence Brown sold 750 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total value of $56,325.00. Following the completion of the transaction, the director now directly owns 10,100 shares in the company, valued at approximately $758,510. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.
About Calavo Growers
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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