Calavo Growers Inc. (CVGW) Trading Down 3%
Calavo Growers Inc. (NASDAQ:CVGW) shares were down 3% on Tuesday . The stock traded as low as $58.71 and last traded at $59.07, with a volume of 312,512 shares traded. The stock had previously closed at $60.92.
Several research analysts recently weighed in on CVGW shares. DA Davidson reiterated a “neutral” rating and issued a $56.00 price objective on shares of Calavo Growers in a research report on Sunday, June 5th. Zacks Investment Research upgraded Calavo Growers from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, June 7th. Lake Street Capital reiterated a “buy” rating on shares of Calavo Growers in a research report on Monday, June 6th. Wunderlich started coverage on Calavo Growers in a research report on Wednesday, June 22nd. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Stephens lowered Calavo Growers from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Calavo Growers currently has an average rating of “Buy” and an average price target of $63.56.
The company has a 50-day moving average of $63.71 and a 200-day moving average of $59.42. The stock has a market capitalization of $1.03 billion and a price-to-earnings ratio of 34.75.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Monday, June 6th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.07. During the same period last year, the firm earned $0.49 EPS. The firm had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $242.33 million. Calavo Growers’s revenue was down .6% compared to the same quarter last year. Equities research analysts predict that Calavo Growers Inc. will post $1.97 EPS for the current year.
In related news, Director Donald M. Sanders sold 2,500 shares of Calavo Growers 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 completion of the transaction, the director now directly owns 15,137 shares in the company, valued at approximately $809,829.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $67.23, for a total value of $67,230.00. Following the transaction, the director now owns 10,750 shares of the company’s stock, valued at $722,722.50. The disclosure for this sale can be found here.
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.