Calavo Growers, Inc. (NASDAQ:CVGW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Calavo Growers, Inc. engages in the procurement and marketing of avocados and other perishable foods and the preparation and distribution of processed avocado products. Their expertise in marketing and distributing avocado, processed avocado, and other perishable foods allows them to deliver a wide array of fresh and processed food products to food distributors, produce wholesalers, supermarkets, and restaurants on a worldwide basis. “

Several other analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Stephens reissued an “overweight” rating and issued a $85.00 target price (up from $75.00) on shares of Calavo Growers in a report on Friday, June 9th. Finally, Buckingham Research decreased their target price on shares of Calavo Growers from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, August 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $79.40.

Calavo Growers (CVGW) opened at 67.95 on Tuesday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 29.56 and a beta of 0.62. Calavo Growers has a 1-year low of $48.75 and a 1-year high of $76.85. The company has a 50-day moving average price of $71.62 and a 200-day moving average price of $65.78.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Tuesday, June 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.08. Calavo Growers had a net margin of 3.99% and a return on equity of 18.38%. The business had revenue of $270.20 million during the quarter, compared to analysts’ expectations of $259.79 million. During the same quarter in the previous year, the company earned $0.56 EPS. The business’s revenue was up 22.7% on a year-over-year basis. On average, equities research analysts predict that Calavo Growers will post $2.12 earnings per share for the current fiscal year.

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In other Calavo Growers news, Director Marc Laurence Brown sold 750 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $75.10, for a total value of $56,325.00. Following the transaction, the director now directly owns 10,100 shares of the company’s stock, valued at approximately $758,510. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen M. Holmgren bought 1,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was purchased at an average cost of $68.00 per share, for a total transaction of $68,000.00. Following the completion of the acquisition, the director now owns 2,750 shares in the company, valued at $187,000. The disclosure for this purchase can be found here. 9.90% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its position in Calavo Growers by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 29,079 shares of the company’s stock valued at $1,785,000 after buying an additional 3,361 shares in the last quarter. Bank of Montreal Can raised its position in Calavo Growers by 33.9% in the first quarter. Bank of Montreal Can now owns 2,957 shares of the company’s stock valued at $179,000 after buying an additional 748 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Calavo Growers by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the company’s stock valued at $382,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue raised its position in Calavo Growers by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 1,690 shares of the company’s stock valued at $102,000 after buying an additional 30 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in Calavo Growers by 251.9% in the first quarter. Acadian Asset Management LLC now owns 5,613 shares of the company’s stock valued at $340,000 after buying an additional 4,018 shares in the last quarter. 86.93% of the stock is currently owned by hedge funds and other institutional investors.

About Calavo Growers

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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