Calavo Growers (NASDAQ:CVGW) Upgraded to "Hold" 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 stock analysts at Stephens to a "hold" rating in a report released on Thursday, September 11th,Zacks.com reports.

CVGW has been the topic of a number of other reports. Lake Street Capital boosted their target price on shares of Calavo Growers from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Wall Street Zen cut shares of Calavo Growers from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Calavo Growers Trading Up 0.3%

CVGW stock traded up $0.07 during midday trading on Thursday, reaching $27.69. 84,726 shares of the company's stock traded hands, compared to its average volume of 244,505. The company has a market capitalization of $494.28 million, a P/E ratio of 31.45 and a beta of 0.39. 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 has a fifty-two week low of $21.46 and a fifty-two week high of $30.02. The business has a 50-day moving average price of $27.06 and a two-hundred day moving average price of $26.05.

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

Hedge Funds Weigh In On Calavo Growers

Several institutional investors have recently modified their holdings of CVGW. Spire Wealth Management bought a new position in Calavo Growers in the 2nd quarter valued at about $30,000. New York State Teachers Retirement System bought a new position in Calavo Growers in the 1st quarter valued at about $36,000. CWM LLC grew its position in Calavo Growers by 5,960.5% in the 1st quarter. CWM LLC now owns 2,303 shares of the company's stock valued at $55,000 after buying an additional 2,265 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Calavo Growers by 673.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company's stock valued at $74,000 after purchasing an additional 2,416 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Calavo Growers during the fourth quarter valued at $99,000. Institutional investors own 81.30% of the company's stock.

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.