BidaskClub cut shares of Calavo Growers (NASDAQ:CVGW) from a strong-buy rating to a buy rating in a research note issued to investors on Friday morning, BidAskClub reports.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Calavo Growers from a hold rating to a buy rating and set a $101.00 price target on the stock in a report on Tuesday, April 9th. ValuEngine upgraded shares of Calavo Growers from a hold rating to a buy rating in a report on Wednesday, April 24th. Vertical Group upgraded shares of Calavo Growers from a hold rating to a buy rating and set a $96.00 price target on the stock in a report on Thursday, April 4th. Finally, TheStreet upgraded shares of Calavo Growers from a c rating to a b- rating in a report on Monday, March 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Calavo Growers has a consensus rating of Buy and a consensus target price of $95.40.

CVGW opened at $93.47 on Friday. Calavo Growers has a 1 year low of $67.52 and a 1 year high of $108.00. The company has a market capitalization of $1.64 billion, a P/E ratio of 37.54 and a beta of 0.98.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.24. Calavo Growers had a net margin of 2.70% and a return on equity of 17.32%. The firm had revenue of $258.00 million for the quarter, compared to analyst estimates of $257.86 million. During the same quarter last year, the firm posted $0.54 earnings per share. Calavo Growers’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts anticipate that Calavo Growers will post 3.17 EPS for the current fiscal year.

In related news, insider James E. Gibson sold 5,770 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $82.20, for a total value of $474,294.00. Following the transaction, the insider now owns 52,150 shares in the company, valued at $4,286,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donald M. Sanders sold 1,776 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $95.00, for a total transaction of $168,720.00. Following the completion of the transaction, the director now owns 18,663 shares in the company, valued at approximately $1,772,985. The disclosure for this sale can be found here. Insiders sold 35,437 shares of company stock worth $2,996,922 in the last 90 days. 7.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVGW. Clearbridge Investments LLC raised its holdings in Calavo Growers by 192.7% in the first quarter. Clearbridge Investments LLC now owns 535,428 shares of the company’s stock valued at $44,896,000 after buying an additional 352,526 shares during the period. Norges Bank purchased a new stake in shares of Calavo Growers during the fourth quarter valued at approximately $12,230,000. Pictet Asset Management Ltd. purchased a new stake in shares of Calavo Growers during the first quarter valued at approximately $12,576,000. Vanguard Group Inc. raised its stake in shares of Calavo Growers by 10.4% during the third quarter. Vanguard Group Inc. now owns 1,112,251 shares of the company’s stock valued at $107,443,000 after purchasing an additional 104,740 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in shares of Calavo Growers by 30.8% during the fourth quarter. Lord Abbett & CO. LLC now owns 379,080 shares of the company’s stock valued at $27,658,000 after purchasing an additional 89,278 shares during the period. Hedge funds and other institutional investors own 86.40% of the company’s stock.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.

Further Reading: Cost of Capital

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