Calavo Growers, Inc. (CVGW) Price Target Cut to $82.00
Calavo Growers, Inc. (NASDAQ:CVGW) had its price target dropped by stock analysts at Buckingham Research from $83.00 to $82.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the stock. Buckingham Research’s price target points to a potential upside of 17.73% from the stock’s current price.
A number of other analysts have also recently weighed in on CVGW. Zacks Investment Research cut shares of Calavo Growers from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. BidaskClub upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, Stephens restated an “overweight” rating and issued a $85.00 target price (up previously from $75.00) on shares of Calavo Growers in a research note on Friday, June 9th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $79.40.
Shares of Calavo Growers (NASDAQ CVGW) traded down 0.50% on Friday, hitting $69.30. 27,302 shares of the company traded hands. The company has a market capitalization of $1.21 billion, a PE ratio of 30.14 and a beta of 0.62. Calavo Growers has a 12 month low of $48.75 and a 12 month high of $76.85. The stock’s 50-day moving average price is $71.49 and its 200-day moving average price is $65.16.
Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Tuesday, June 6th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08. The firm had revenue of $270.20 million during the quarter, compared to analysts’ expectations of $259.79 million. Calavo Growers had a net margin of 3.99% and a return on equity of 18.38%. Calavo Growers’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. On average, equities analysts predict that Calavo Growers will post $2.34 earnings per share for the current year.
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In other news, Director Marc Laurence Brown sold 750 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total value of $56,325.00. Following the completion of the sale, the director now owns 10,100 shares in the company, valued at approximately $758,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen M. Holmgren bought 1,000 shares of Calavo Growers stock in a transaction dated Thursday, July 6th. The stock was purchased at an average price of $68.00 per share, with a total value of $68,000.00. Following the purchase, the director now directly owns 2,750 shares in the company, valued at approximately $187,000. The disclosure for this purchase can be found here. 9.90% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CVGW. Wells Fargo & Company MN increased its position in shares of Calavo Growers by 14.3% in the first quarter. Wells Fargo & Company MN now owns 99,499 shares of the company’s stock worth $6,029,000 after buying an additional 12,437 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in shares of Calavo Growers by 1.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 52,482 shares of the company’s stock worth $3,180,000 after buying an additional 650 shares in the last quarter. Eidelman Virant Capital bought a new position in shares of Calavo Growers during the first quarter worth about $3,726,000. Russell Investments Group Ltd. increased its position in shares of Calavo Growers by 126.3% in the first quarter. Russell Investments Group Ltd. now owns 70,282 shares of the company’s stock worth $4,259,000 after buying an additional 39,221 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Calavo Growers by 2.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 570,000 shares of the company’s stock worth $34,542,000 after buying an additional 12,420 shares in the last quarter. Institutional investors own 83.64% of the company’s stock.
Calavo Growers Company Profile
Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).
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