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

Key Points

• Calavo Growers stock rating was upgraded from "hold" to "buy" by Wall Street Zen, indicating a positive outlook on its shares.
• The company's earnings report showed an EPS of $0.57, surpassing estimates, although revenue fell slightly short of expectations.
• Calavo Growers has seen significant interest from institutional investors, with several firms increasing their stakes in the company during the first quarter.

Calavo Growers (NASDAQ:CVGW - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

CVGW has been the topic of several other research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Calavo Growers in a report on Wednesday. Lake Street Capital boosted their target price on Calavo Growers from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, Stephens raised Calavo Growers to a "hold" rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Calavo Growers currently has a consensus rating of "Hold" and an average price target of $40.00.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW opened at $24.97 on Friday. Calavo Growers has a 12 month low of $21.46 and a 12 month high of $30.02. The stock has a market cap of $445.71 million, a price-to-earnings ratio of 28.38 and a beta of 0.41. The stock's 50 day moving average price is $26.91 and its 200 day moving average price is $26.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.30 and a quick ratio of 1.86.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its earnings results on Tuesday, September 9th. The company reported $0.57 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $195.20 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The firm's quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calavo Growers

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its position in Calavo Growers by 85.6% during the 1st quarter. Quantbot Technologies LP now owns 11,480 shares of the company's stock worth $275,000 after purchasing an additional 5,295 shares in the last quarter. Teacher Retirement System of Texas grew its position in Calavo Growers by 390.5% during the 1st quarter. Teacher Retirement System of Texas now owns 60,533 shares of the company's stock worth $1,452,000 after purchasing an additional 48,193 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Calavo Growers during the 1st quarter worth approximately $36,000. GAMMA Investing LLC grew its position in Calavo Growers by 1,994.0% during the 1st quarter. GAMMA Investing LLC now owns 13,171 shares of the company's stock worth $316,000 after purchasing an additional 12,542 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Calavo Growers by 1.2% during 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 in the last quarter. 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.

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