Mission Produce (NASDAQ:AVO) Trading Down 6.3% – What’s Next?

Mission Produce, Inc. (NASDAQ:AVO) traded down 6.3% on Monday . The company traded as low as $12.51 and last traded at $12.3640. 27,132 shares traded hands during trading, a decline of 92% from the average session volume of 358,474 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Roth Capital raised their price target on Mission Produce from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Stephens started coverage on Mission Produce in a report on Friday, September 12th. They set an “overweight” rating and a $17.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Mission Produce in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Mission Produce Price Performance

The stock has a market cap of $841.78 million, a price-to-earnings ratio of 22.92 and a beta of 0.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 2.04. The company has a 50-day simple moving average of $12.05 and a two-hundred day simple moving average of $12.16.

Mission Produce (NASDAQ:AVO) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Mission Produce had a return on equity of 8.29% and a net margin of 2.71%.The firm had revenue of $319.00 million for the quarter, compared to the consensus estimate of $301.60 million. During the same period last year, the company posted $0.28 earnings per share. The business’s revenue was down 10.0% compared to the same quarter last year. As a group, equities research analysts forecast that Mission Produce, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Mission Produce

In other Mission Produce news, major shareholder Holdings Venture Globalharvest acquired 5,262 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $12.46 per share, with a total value of $65,564.52. Following the completion of the transaction, the insider directly owned 7,245,999 shares in the company, valued at approximately $90,285,147.54. This represents a 0.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 130,811 shares of company stock valued at $1,552,487 in the last 90 days. 35.41% of the stock is owned by corporate insiders.

Institutional Trading of Mission Produce

Several institutional investors have recently added to or reduced their stakes in AVO. Vanguard Group Inc. increased its position in Mission Produce by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,920,349 shares of the company’s stock worth $30,605,000 after buying an additional 85,984 shares during the period. Swiss National Bank grew its stake in shares of Mission Produce by 6.6% in the first quarter. Swiss National Bank now owns 89,300 shares of the company’s stock valued at $936,000 after acquiring an additional 5,500 shares in the last quarter. Nuveen LLC acquired a new position in shares of Mission Produce in the first quarter valued at about $1,137,000. Russell Investments Group Ltd. increased its position in Mission Produce by 6,802.2% during the first quarter. Russell Investments Group Ltd. now owns 105,534 shares of the company’s stock worth $1,104,000 after acquiring an additional 104,005 shares during the period. Finally, American Century Companies Inc. raised its stake in Mission Produce by 38.1% in the 1st quarter. American Century Companies Inc. now owns 669,734 shares of the company’s stock worth $7,019,000 after purchasing an additional 184,639 shares in the last quarter. 63.57% of the stock is currently owned by institutional investors.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.