Mission Produce (NASDAQ:AVO) Announces Earnings Results

Mission Produce (NASDAQ:AVO) posted its earnings results on Wednesday. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01, MarketWatch Earnings reports.

AVO stock opened at $21.88 on Friday. The stock’s 50 day moving average price is $20.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.74 and a quick ratio of 2.18. Mission Produce has a fifty-two week low of $11.75 and a fifty-two week high of $22.40. The stock has a market capitalization of $1.54 billion and a price-to-earnings ratio of 28.05.

Several brokerages have recently issued reports on AVO. Roth Capital increased their price target on shares of Mission Produce from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, March 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $22.00 price target on shares of Mission Produce in a research report on Wednesday, March 17th. Zacks Investment Research cut shares of Mission Produce from a “buy” rating to a “hold” rating in a research report on Tuesday, March 23rd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and set a $22.00 price target (up previously from $16.00) on shares of Mission Produce in a research report on Monday, March 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $19.57.

In other Mission Produce news, Director Luis A. Gonzalez sold 350,000 shares of the stock in a transaction that occurred on Tuesday, April 6th. The shares were sold at an average price of $19.01, for a total value of $6,653,500.00. Following the transaction, the director now directly owns 8,333 shares in the company, valued at $158,410.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Luis A. Gonzalez sold 24,947 shares of the stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $22.07, for a total transaction of $550,580.29. Following the completion of the transaction, the director now owns 13,361 shares in the company, valued at $294,877.27. The disclosure for this sale can be found here. Insiders have sold 724,947 shares of company stock worth $14,029,080 over the last 90 days. Insiders own 47.00% of the company’s stock.

Mission Produce Company Profile

Mission Produce, Inc engages in sourcing, producing, and distributing avocados in the United States and internationally. The company operates through two segments, Marketing and Distribution, and International Farming. It serves retail, wholesale, and foodservice customers. The company was founded in 1983 and is headquartered in Oxnard, California.

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