Calavo Growers (CVGW) Rating Increased to Strong-Buy at BidaskClub

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BidaskClub upgraded shares of Calavo Growers (NASDAQ:CVGW) from a buy rating to a strong-buy rating in a report published on Wednesday, BidAskClub reports.

CVGW has been the subject of a number of other research reports. Vertical Group raised Calavo Growers from a hold rating to a buy rating and set a $96.00 price target for the company in a research note on Thursday, April 4th. TheStreet raised Calavo Growers from a c rating to a b- rating in a research note on Monday, March 11th. ValuEngine raised Calavo Growers from a hold rating to a buy rating in a research report on Wednesday, April 24th. Finally, Zacks Investment Research raised Calavo Growers from a hold rating to a buy rating and set a $101.00 price objective for the company in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $95.40.

Shares of CVGW stock opened at $94.89 on Wednesday. Calavo Growers has a 52 week low of $67.52 and a 52 week high of $108.00. The firm has a market capitalization of $1.67 billion, a P/E ratio of 38.11 and a beta of 0.98.

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

In other Calavo Growers news, Director Marc Laurence Brown sold 1,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $85.07, for a total transaction of $85,070.00. Following the completion of the transaction, the director now owns 14,750 shares of the company’s stock, valued at $1,254,782.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James E. Gibson sold 5,770 shares of the firm’s stock in a transaction 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 directly owns 52,150 shares of the company’s stock, valued at approximately $4,286,730. The disclosure for this sale can be found here. Insiders have sold 35,437 shares of company stock valued at $2,996,922 in the last three months. Insiders own 7.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund lifted its position in Calavo Growers by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,056 shares of the company’s stock valued at $508,000 after buying an additional 109 shares during the period. White Pine Capital LLC raised its position in shares of Calavo Growers by 0.7% in the 1st quarter. White Pine Capital LLC now owns 15,730 shares of the company’s stock worth $1,319,000 after purchasing an additional 115 shares during the last quarter. Legal & General Group Plc raised its position in shares of Calavo Growers by 0.3% in the 4th quarter. Legal & General Group Plc now owns 37,095 shares of the company’s stock worth $2,708,000 after purchasing an additional 127 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Calavo Growers by 16.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,127 shares of the company’s stock worth $94,000 after purchasing an additional 158 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of Calavo Growers by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 5,021 shares of the company’s stock worth $421,000 after purchasing an additional 165 shares during the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.

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.

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