Calavo Growers (NASDAQ:CVGW) Upgraded at Zacks Investment Research

Calavo Growers (NASDAQ:CVGW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

Separately, BidaskClub lowered shares of Calavo Growers from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $96.50.

CVGW stock traded down $0.08 during mid-day trading on Tuesday, reaching $88.72. 182,568 shares of the company traded hands, compared to its average volume of 149,469. The company has a fifty day moving average price of $88.55 and a 200-day moving average price of $91.65. Calavo Growers has a 52-week low of $67.52 and a 52-week high of $100.58. The company has a market capitalization of $1.57 billion, a P/E ratio of 35.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.06.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. Calavo Growers had a net margin of 2.54% and a return on equity of 17.89%. The firm had revenue of $359.30 million for the quarter, compared to the consensus estimate of $327.83 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, analysts forecast that Calavo Growers will post 3.01 EPS for the current year.

In related news, Director Marc Laurence Brown sold 1,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $94.47, for a total transaction of $94,470.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $1,039,170. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in shares of Calavo Growers by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 24,298 shares of the company’s stock valued at $2,351,000 after acquiring an additional 178 shares during the last quarter. Moody Aldrich Partners LLC raised its stake in Calavo Growers by 2.7% in the second quarter. Moody Aldrich Partners LLC now owns 65,678 shares of the company’s stock valued at $6,354,000 after purchasing an additional 1,747 shares in the last quarter. Aperio Group LLC lifted its position in Calavo Growers by 6.4% during the second quarter. Aperio Group LLC now owns 5,028 shares of the company’s stock valued at $486,000 after purchasing an additional 304 shares during the last quarter. Janus Henderson Group PLC lifted its position in Calavo Growers by 52.3% during the second quarter. Janus Henderson Group PLC now owns 5,388 shares of the company’s stock valued at $521,000 after purchasing an additional 1,851 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in Calavo Growers by 12.0% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 169,172 shares of the company’s stock worth $16,366,000 after buying an additional 18,177 shares in the last quarter. Institutional investors and hedge funds own 92.09% of the company’s stock.

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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