Brokerages Set Calavo Growers (CVGW) Price Target at $96.25

Calavo Growers (NASDAQ:CVGW) has received an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $96.25.

A number of research firms recently issued reports on CVGW. BidaskClub upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Saturday, April 14th. Lake Street Capital set a $91.00 target price on shares of Calavo Growers and gave the company a “buy” rating in a research report on Thursday, March 8th. Buckingham Research restated a “buy” rating and set a $95.00 target price (up from $88.00) on shares of Calavo Growers in a research report on Thursday, March 8th. ValuEngine upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Stephens boosted their target price on shares of Calavo Growers to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, March 21st.

In other Calavo Growers news, VP Michael A. Browne sold 6,500 shares of Calavo Growers stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $92.15, for a total value of $598,975.00. Following the completion of the transaction, the vice president now owns 13,117 shares of the company’s stock, valued at $1,208,731.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Link Leavens sold 7,500 shares of Calavo Growers stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $92.31, for a total transaction of $692,325.00. Following the completion of the transaction, the director now directly owns 92,528 shares of the company’s stock, valued at approximately $8,541,259.68. The disclosure for this sale can be found here. Insiders own 8.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning purchased a new position in Calavo Growers in the fourth quarter valued at $248,000. Deutsche Bank AG increased its holdings in Calavo Growers by 55.5% in the fourth quarter. Deutsche Bank AG now owns 59,521 shares of the company’s stock valued at $5,023,000 after buying an additional 21,256 shares in the last quarter. Swiss National Bank increased its holdings in Calavo Growers by 4.3% in the fourth quarter. Swiss National Bank now owns 26,900 shares of the company’s stock valued at $2,270,000 after buying an additional 1,100 shares in the last quarter. Koch Industries Inc. purchased a new position in Calavo Growers in the fourth quarter valued at $217,000. Finally, Probabilities Fund Management LLC purchased a new position in Calavo Growers in the fourth quarter valued at $885,000. 86.37% of the stock is owned by institutional investors.

NASDAQ:CVGW opened at $87.95 on Tuesday. Calavo Growers has a 12 month low of $65.75 and a 12 month high of $98.85. The firm has a market cap of $1.65 billion, a PE ratio of 41.29 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Wednesday, March 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. The company had revenue of $247.90 million during the quarter, compared to the consensus estimate of $272.89 million. Calavo Growers had a net margin of 3.57% and a return on equity of 16.95%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. research analysts predict that Calavo Growers will post 3.17 EPS for the current fiscal year.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.

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