Calavo Growers Inc. (CVGW) Shares Up 2.4%
Calavo Growers Inc. (NASDAQ:CVGW) shot up 2.4% during trading on Monday . The company traded as high as $61.69 and last traded at $61.66, with a volume of 94,754 shares changing hands. The stock had previously closed at $60.22.
A number of research firms recently commented on CVGW. Zacks Investment Research downgraded Calavo Growers from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Stephens downgraded Calavo Growers from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 9th. DA Davidson reiterated a “neutral” rating and issued a $56.00 price objective on shares of Calavo Growers in a report on Sunday, June 5th. Lake Street Capital reiterated a “buy” rating on shares of Calavo Growers in a report on Monday, June 6th. Finally, Wunderlich began coverage on Calavo Growers in a report on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $62.44.
The stock has a 50 day moving average of $64.69 and a 200 day moving average of $58.90. The firm has a market capitalization of $1.07 billion and a P/E ratio of 36.05.
Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Monday, June 6th. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.07. The business earned $220.30 million during the quarter, compared to analyst estimates of $242.33 million. During the same period in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that Calavo Growers Inc. will post $2.00 EPS for the current fiscal year.
In related news, Director Donald M. Sanders sold 8,000 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $52.50, for a total transaction of $420,000.00. Following the sale, the director now owns 15,137 shares of the company’s stock, valued at approximately $794,692.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steve Hollister sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $65.90, for a total value of $65,900.00. Following the sale, the director now directly owns 20,650 shares in the company, valued at approximately $1,360,835. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Calavo Growers stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Calavo Growers Inc. (NASDAQ:CVGW) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,884 shares of the company’s stock after buying an additional 3,978 shares during the period. Schwab Charles Investment Management Inc. owned 0.30% of Calavo Growers worth $2,592,000 as of its most recent filing with the SEC.
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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