Calavo Growers (NASDAQ:CVGW) Upgraded at Stephens

Key Points

• Calavo Growers has been upgraded to a "hold" rating by Stephens, while Lake Street Capital increased its price target from $35 to $40 and assigned a "buy" rating.
• The company reported quarterly earnings of $0.57 per share, exceeding the estimated $0.54, although its revenue of $178.82 million fell short of expectations.
• Institutional investors own 81.30% of Calavo Growers, with notable increases in holdings from Nuance Investments and Russell Investments Group in recent quarters.

Calavo Growers (NASDAQ:CVGW - Get Free Report) was upgraded by equities researchers at Stephens to a "hold" rating in a report released on Thursday,Zacks.com reports.

Several other research analysts also recently weighed in on CVGW. Lake Street Capital increased their price target on shares of Calavo Growers from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen downgraded shares of Calavo Growers from a "buy" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Calavo Growers Stock Down 1.4%

CVGW opened at $27.37 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. Calavo Growers has a 1-year low of $21.46 and a 1-year high of $30.02. The company has a market capitalization of $488.64 million, a PE ratio of 31.10 and a beta of 0.39. The firm's 50 day simple moving average is $27.02 and its two-hundred day simple moving average is $25.96.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. Calavo Growers had a net margin of 2.28% and a return on equity of 11.73%. The business had revenue of $178.82 million for the quarter, compared to the consensus estimate of $195.20 million. During the same period last year, the firm earned $0.57 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that Calavo Growers will post 1.87 EPS for the current year.

Institutional Trading of Calavo Growers

Several institutional investors and hedge funds have recently modified their holdings of the company. Nuance Investments LLC raised its position in shares of 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 period. Vanguard Group Inc. grew its stake in Calavo Growers by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,161,996 shares of the company's stock valued at $27,876,000 after acquiring an additional 13,491 shares in the last quarter. Geode Capital Management LLC grew its stake in Calavo Growers by 0.4% during the second quarter. Geode Capital Management LLC now owns 481,601 shares of the company's stock valued at $12,807,000 after acquiring an additional 1,683 shares in the last quarter. Old West Investment Management LLC purchased a new position in Calavo Growers during the second quarter valued at $11,364,000. Finally, Russell Investments Group Ltd. grew its stake in Calavo Growers by 32.1% during the second quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company's stock valued at $10,284,000 after acquiring an additional 94,073 shares in the last quarter. 81.30% of the stock is currently owned by 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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