Stephens Initiates Coverage on Calavo Growers (CVGW)

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Stephens assumed coverage on shares of Calavo Growers (NASDAQ:CVGW) in a research report report published on Tuesday morning, The Fly reports. The firm issued an overweight rating and a $88.00 target price on the stock.

Several other equities research analysts have also recently commented on the company. TheStreet cut Calavo Growers from a b rating to a c rating in a research note on Thursday, January 3rd. Lake Street Capital set a $94.00 price objective on Calavo Growers and gave the stock a buy rating in a research note on Friday, December 21st. BidaskClub cut Calavo Growers from a hold rating to a sell rating in a research note on Tuesday, December 11th. Finally, Zacks Investment Research upgraded Calavo Growers from a sell rating to a hold rating in a research note on Tuesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Calavo Growers has an average rating of Hold and a consensus target price of $94.75.

NASDAQ CVGW traded down $0.34 during trading on Tuesday, hitting $78.36. The stock had a trading volume of 8,091 shares, compared to its average volume of 258,690. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 31.09 and a beta of 0.87. Calavo Growers has a 12 month low of $67.52 and a 12 month high of $108.00.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Thursday, December 20th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.78). The firm had revenue of $280.00 million during the quarter, compared to the consensus estimate of $275.82 million. Calavo Growers had a net margin of 2.96% and a return on equity of 16.36%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS.

In other news, Director Marc Laurence Brown sold 343 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $95.74, for a total transaction of $32,838.82. Following the sale, the director now owns 11,343 shares in the company, valued at approximately $1,085,978.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 8.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CVGW. Advisors Asset Management Inc. increased its holdings in shares of Calavo Growers by 797.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,149 shares of the company’s stock worth $111,000 after acquiring an additional 1,021 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Calavo Growers during the 2nd quarter worth approximately $144,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Calavo Growers during the 3rd quarter worth approximately $206,000. Penobscot Investment Management Company Inc. acquired a new position in shares of Calavo Growers during the 3rd quarter worth approximately $208,000. Finally, Atria Investments LLC acquired a new position in shares of Calavo Growers during the 3rd quarter worth approximately $219,000. Institutional investors own 88.94% of the company’s stock.

About Calavo Growers

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.

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