Calavo Growers (NASDAQ:CVGW) had its price objective raised by Stephens from $85.00 to $100.00 in a report released on Wednesday, December 20th. The brokerage presently has an “overweight” rating on the stock. Stephens’ price objective suggests a potential upside of 12.99% from the company’s previous close.
A number of other research firms also recently weighed in on CVGW. Lake Street Capital restated a “buy” rating and issued a $91.00 price target (up from $76.00) on shares of Calavo Growers in a research note on Wednesday, December 20th. BidaskClub cut Calavo Growers from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $88.00.
Calavo Growers (CVGW) opened at $88.50 on Wednesday. Calavo Growers has a one year low of $48.75 and a one year high of $89.55. The company has a market capitalization of $1,550.00, a price-to-earnings ratio of 41.55 and a beta of 0.65.
Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Tuesday, December 19th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.09. Calavo Growers had a return on equity of 16.01% and a net margin of 3.47%. The business had revenue of $277.20 million for the quarter, compared to analyst estimates of $297.40 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. equities research analysts anticipate that Calavo Growers will post 2.82 earnings per share for the current fiscal year.
In other news, Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $85.05, for a total value of $85,050.00. Following the transaction, the director now owns 9,600 shares in the company, valued at approximately $816,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James E. Snyder sold 750 shares of Calavo Growers stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total value of $52,642.50. Following the completion of the transaction, the insider now owns 11,095 shares in the company, valued at approximately $778,758.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,750 shares of company stock worth $929,093. Corporate insiders own 9.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of CVGW. Acrospire Investment Management LLC grew its position in Calavo Growers by 561.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock worth $122,000 after acquiring an additional 1,500 shares during the last quarter. SG Americas Securities LLC acquired a new position in Calavo Growers during the 2nd quarter worth about $128,000. Pinebridge Investments L.P. lifted its holdings in Calavo Growers by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after buying an additional 29 shares during the period. Aviance Capital Management LLC acquired a new position in Calavo Growers during the 2nd quarter worth about $153,000. Finally, Victory Capital Management Inc. lifted its holdings in Calavo Growers by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,444 shares of the company’s stock worth $169,000 after buying an additional 367 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.
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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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