Calavo Growers, Inc. (CVGW) Receives $97.33 Consensus PT from Brokerages

Shares of Calavo Growers, Inc. (NASDAQ:CVGW) have been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $97.33.

A number of equities research analysts recently weighed in on CVGW shares. BidaskClub raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Saturday, April 14th. Zacks Investment Research lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Wednesday, May 30th. Buckingham Research raised their price target on shares of Calavo Growers from $95.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. Finally, Vertical Group downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th.

In other Calavo Growers news, VP Robert J. Wedin sold 6,016 shares of the stock in a transaction on Friday, June 8th. The shares were sold at an average price of $83.76, for a total transaction of $503,900.16. Following the transaction, the vice president now directly owns 12,601 shares in the company, valued at approximately $1,055,459.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert J. Wedin sold 2,601 shares of the stock in a transaction on Friday, July 6th. The shares were sold at an average price of $98.37, for a total transaction of $255,860.37. Following the transaction, the vice president now owns 10,000 shares in the company, valued at $983,700. The disclosure for this sale can be found here. Insiders have sold a total of 25,844 shares of company stock worth $2,289,564 over the last quarter. 8.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its position in shares of Calavo Growers by 1.9% in the 1st quarter. Legal & General Group Plc now owns 29,398 shares of the company’s stock worth $2,699,000 after buying an additional 548 shares during the last quarter. Swiss National Bank lifted its position in shares of Calavo Growers by 2.2% in the 1st quarter. Swiss National Bank now owns 27,500 shares of the company’s stock worth $2,536,000 after buying an additional 600 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Calavo Growers by 25.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 3,408 shares of the company’s stock worth $328,000 after buying an additional 694 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Calavo Growers by 1.9% in the 2nd quarter. Rhumbline Advisers now owns 38,112 shares of the company’s stock worth $3,664,000 after buying an additional 703 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its position in shares of Calavo Growers by 0.3% in the 1st quarter. Copeland Capital Management LLC now owns 269,755 shares of the company’s stock worth $24,871,000 after buying an additional 797 shares during the last quarter. Hedge funds and other institutional investors own 88.63% of the company’s stock.

CVGW traded up $1.55 during trading hours on Friday, reaching $98.00. 155,011 shares of the stock traded hands, compared to its average volume of 97,964. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 39.69 and a beta of 0.56. Calavo Growers has a fifty-two week low of $65.85 and a fifty-two week high of $99.00.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Wednesday, June 6th. The company reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.01). The firm had revenue of $264.40 million for the quarter, compared to analyst estimates of $301.20 million. Calavo Growers had a net margin of 3.70% and a return on equity of 16.89%. Calavo Growers’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. analysts forecast that Calavo Growers will post 2.97 earnings per share for the current year.

About Calavo Growers

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.

Further Reading: Growth Stocks

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