Calavo Growers Inc. (CVGW) Sees Unusually-High Trading Volume
Calavo Growers Inc. (NASDAQ:CVGW) saw unusually-high trading volume on Monday . Approximately 147,079 shares changed hands during trading, an increase of 11% from the previous session’s volume of 133,006 shares.The stock last traded at $67.39 and had previously closed at $66.94.
CVGW has been the topic of a number of analyst reports. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, June 7th. Lake Street Capital reaffirmed a “buy” rating on shares of Calavo Growers in a research report on Monday, June 6th. Wunderlich initiated coverage on Calavo Growers in a research report on Wednesday, June 22nd. They set a “buy” rating and a $75.00 price objective on the stock. Finally, DA Davidson reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Calavo Growers in a research report on Sunday, June 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Calavo Growers presently has an average rating of “Buy” and a consensus target price of $62.44.
The stock has a market cap of $1.17 billion and a price-to-earnings ratio of 39.51. The stock has a 50 day moving average price of $63.42 and a 200-day moving average price of $55.97.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Monday, June 6th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. The firm earned $220.30 million during the quarter, compared to analyst estimates of $242.33 million. During the same period in the prior year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts expect that Calavo Growers Inc. will post $2.04 earnings per share for the current year.
In other news, Director Donald M. Sanders sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $52.50, for a total value of $420,000.00. Following the sale, the director now owns 15,137 shares in the company, valued at $794,692.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kenneth J. Catchot sold 45,000 shares of the company’s stock in a transaction dated Friday, April 15th. The stock was sold at an average price of $55.46, for a total value of $2,495,700.00. Following the completion of the sale, the chief operating officer now owns 501,806 shares in the company, valued at approximately $27,830,160.76. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of CVGW. California State Teachers Retirement System increased its stake in shares of Calavo Growers by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 27,304 shares of the company’s stock worth $1,338,000 after buying an additional 400 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Calavo Growers by 4.7% in the fourth quarter. Eagle Asset Management Inc. now owns 50,668 shares of the company’s stock worth $2,482,000 after buying an additional 2,276 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Calavo Growers by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 560,142 shares of the company’s stock worth $27,447,000 after buying an additional 4,590 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.