Calavo Growers Inc. (CVGW) Sees Large Volume Increase
Calavo Growers Inc. (NASDAQ:CVGW) saw strong trading volume on Tuesday . 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.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Stephens downgraded shares of Calavo Growers from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 9th. DA Davidson reiterated a “neutral” rating and issued a $56.00 price target on shares of Calavo Growers in a research note on Sunday, June 5th. Lake Street Capital reiterated a “buy” rating on shares of Calavo Growers in a research note on Monday, June 6th. Finally, Wunderlich assumed coverage on shares of Calavo Growers in a research note on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $62.44.
The company’s 50-day moving average price is $65.36 and its 200 day moving average price is $58.63. The firm has a market cap of $1.06 billion and a price-to-earnings ratio of 35.76.
Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Monday, June 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company posted $0.49 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that Calavo Growers Inc. will post $2.00 earnings per share for the current fiscal year.
In related news, Director Steve Hollister sold 1,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 20,650 shares of the company’s stock, valued at approximately $1,360,835. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Donald M. Sanders sold 2,500 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $53.50, for a total transaction of $133,750.00. Following the sale, the director now directly owns 15,137 shares of the company’s stock, valued at approximately $809,829.50. 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 raised its position in Calavo Growers Inc. (NASDAQ:CVGW) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,304 shares of the company’s stock after buying an additional 400 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Calavo Growers worth $1,338,000 at the end of the most recent 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.