Calavo Growers Inc. (CVGW) Sees Large Volume Increase
Calavo Growers Inc. (NASDAQ:CVGW) saw unusually-high trading volume on Tuesday . Approximately 93,667 shares traded hands during mid-day trading, a decline of 0% from the previous session’s volume of 93,751 shares.The stock last traded at $61.16 and had previously closed at $61.38.
CVGW has been the topic of a number of recent research reports. Zacks Investment Research lowered Calavo Growers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. DA Davidson restated a “neutral” rating and issued a $56.00 price objective on shares of Calavo Growers in a research report on Sunday, June 5th. Wunderlich assumed coverage on Calavo Growers in a research report on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price objective on the stock. Stephens lowered Calavo Growers from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, August 9th. Finally, Lake Street Capital restated a “buy” rating on shares of Calavo Growers in a research report on Monday, June 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $62.44.
The firm has a market capitalization of $1.05 billion and a price-to-earnings ratio of 35.26. The firm has a 50-day moving average of $65.20 and a 200 day moving average of $58.64.
Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Monday, June 6th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.07. The business had revenue of $220.30 million for the quarter, compared to analyst estimates of $242.33 million. During the same period last year, the business posted $0.49 EPS. Calavo Growers’s revenue was down .6% on a year-over-year basis. On average, analysts anticipate that Calavo Growers Inc. will post $2.00 earnings per share for the current year.
In other Calavo Growers news, Director Steve Hollister sold 1,000 shares of Calavo Growers stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $65.90, for a total transaction of $65,900.00. Following the transaction, the director now owns 20,650 shares of the company’s stock, valued at $1,360,835. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Donald M. Sanders sold 8,000 shares of Calavo Growers stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $52.50, for a total value of $420,000.00. Following the transaction, the director now directly owns 15,137 shares in the company, valued at approximately $794,692.50. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Calavo Growers stock. California State Teachers Retirement System boosted its stake in Calavo Growers Inc. (NASDAQ:CVGW) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,304 shares of the company’s stock after buying an additional 400 shares during the period. California State Teachers Retirement System owned about 0.16% of Calavo Growers worth $1,338,000 as of its most recent SEC filing.
Calavo Growers, Inc (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados, prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors, produce wholesalers, supermarkets, convenience stores and restaurants.
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