Calavo Growers (NASDAQ:CVGW) Lowered to Hold Rating by StockNews.com

Calavo Growers (NASDAQ:CVGW) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Lake Street Capital decreased their price target on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

Calavo Growers Stock Performance

Calavo Growers stock opened at $22.89 on Tuesday. The stock has a fifty day moving average price of $23.29 and a 200 day moving average price of $25.38. Calavo Growers has a 52 week low of $20.30 and a 52 week high of $30.58. The firm has a market capitalization of $408.29 million, a P/E ratio of -381.50 and a beta of 0.41. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $169.96 million during the quarter, compared to analysts’ expectations of $161.99 million. Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) EPS. Equities research analysts anticipate that Calavo Growers will post 1.87 earnings per share for the current year.

Insider Transactions at Calavo Growers

In other Calavo Growers news, EVP Michael A. Browne acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was bought at an average price of $23.69 per share, with a total value of $142,140.00. Following the completion of the transaction, the executive vice president now directly owns 7,500 shares of the company’s stock, valued at approximately $177,675. The trade was a 400.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Calavo Growers

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Calavo Growers in the fourth quarter valued at about $26,000. Van ECK Associates Corp boosted its holdings in Calavo Growers by 69.1% in the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company’s stock worth $65,000 after acquiring an additional 1,039 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Calavo Growers in the fourth quarter valued at approximately $76,000. Aquatic Capital Management LLC purchased a new stake in shares of Calavo Growers during the fourth quarter valued at approximately $86,000. Finally, State of Wyoming acquired a new position in shares of Calavo Growers during the fourth quarter worth $99,000. Institutional investors and hedge funds own 81.30% 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 worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.