Calavo Growers Inc. (CVGW) Sees Large Volume Increase
Calavo Growers Inc. (NASDAQ:CVGW) shares saw unusually-high trading volume on Tuesday . Approximately 164,981 shares traded hands during mid-day trading, an increase of 98% from the previous session’s volume of 83,416 shares.The stock last traded at $63.92 and had previously closed at $65.20.
CVGW has been the subject of a number of research reports. Wunderlich initiated coverage on shares of Calavo Growers in a report on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 target price for the company. Lake Street Capital reaffirmed a “buy” rating on shares of Calavo Growers in a report on Monday, June 6th. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Calavo Growers in a report on Sunday, June 5th. Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, June 7th. Finally, Stephens cut shares of Calavo Growers from an “overweight” rating to an “equal weight” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $62.44.
The stock has a market capitalization of $1.09 billion and a PE ratio of 36.83. The stock has a 50-day moving average of $66.04 and a 200-day moving average of $58.24.
Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Monday, June 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.07. The firm had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $242.33 million. During the same period last year, the firm earned $0.49 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that Calavo Growers Inc. will post $2.03 EPS for the current fiscal year.
In other Calavo Growers news, 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 transaction of $65,900.00. Following the completion of the transaction, the director now directly owns 20,650 shares of the company’s stock, valued at approximately $1,360,835. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 15,137 shares of the company’s stock, valued at $794,692.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Calavo Growers stock. California State Teachers Retirement System increased its stake in Calavo Growers Inc. (NASDAQ:CVGW) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,304 shares of the company’s stock after buying an additional 400 shares during the period. California State Teachers Retirement System owned 0.16% of Calavo Growers worth $1,338,000 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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