Calavo Growers (NASDAQ:CVGW) Stock Rating Lowered by Wall Street Zen

Calavo Growers (NASDAQ:CVGW) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Lake Street Capital boosted their target price on Calavo Growers from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Calavo Growers presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Calavo Growers Price Performance

Calavo Growers stock opened at $27.37 on Friday. Calavo Growers has a 52 week low of $21.46 and a 52 week high of $30.02. The business has a 50-day simple moving average of $27.02 and a 200 day simple moving average of $26.00. The company has a quick ratio of 1.86, a current ratio of 2.30 and a debt-to-equity ratio of 0.02. The stock has a market cap of $488.55 million, a price-to-earnings ratio of 31.10 and a beta of 0.39.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.The firm had revenue of $178.82 million during the quarter, compared to analysts’ expectations of $195.20 million. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts forecast that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of Calavo Growers

Several institutional investors have recently added to or reduced their stakes in the business. Nuance Investments LLC boosted its stake in Calavo Growers by 6.4% during the 1st quarter. Nuance Investments LLC now owns 1,770,251 shares of the company’s stock valued at $42,468,000 after purchasing an additional 106,736 shares during the last quarter. Vanguard Group Inc. raised its holdings in Calavo Growers by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,161,996 shares of the company’s stock worth $27,876,000 after purchasing an additional 13,491 shares during the period. Geode Capital Management LLC raised its holdings in Calavo Growers by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 481,601 shares of the company’s stock worth $12,807,000 after purchasing an additional 1,683 shares during the period. Old West Investment Management LLC bought a new position in Calavo Growers in the 2nd quarter worth $11,364,000. Finally, Russell Investments Group Ltd. raised its holdings in Calavo Growers by 32.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company’s stock worth $10,284,000 after purchasing an additional 94,073 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

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 worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.