Lake Street Capital Raises Calavo Growers (NASDAQ:CVGW) Price Target to $40.00

Key Points

• Lake Street Capital has raised its price target for Calavo Growers (NASDAQ:CVGW) from $35.00 to $40.00, indicating a potential upside of 52.09% based on the current stock price.
• Despite the optimistic price target, Wall Street Zen has downgraded Calavo Growers from a "buy" to a "hold" rating, reflecting mixed analyst sentiments.
• Calavo Growers reported earnings per share of $0.57 for the last quarter, beating estimates, but experienced a revenue decline of 0.4% compared to the same quarter last year.

Calavo Growers (NASDAQ:CVGW - Get Free Report) had its price target hoisted by research analysts at Lake Street Capital from $35.00 to $40.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Lake Street Capital's target price would indicate a potential upside of 52.09% from the company's current price.

Separately, Wall Street Zen lowered Calavo Growers from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $40.00.

Calavo Growers Stock Down 4.5%

CVGW traded down $1.24 during mid-day trading on Wednesday, reaching $26.30. 229,079 shares of the stock were exchanged, compared to its average volume of 245,279. The stock has a market capitalization of $469.11 million, a PE ratio of 45.35 and a beta of 0.39. Calavo Growers has a 1 year low of $21.46 and a 1 year high of $30.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 2.00. The company has a 50 day moving average price of $27.03 and a two-hundred day moving average price of $25.90.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last posted its earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. Calavo Growers had a return on equity of 11.79% and a net margin of 1.50%.The business had revenue of $178.82 million during the quarter, compared to analyst estimates of $195.20 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Calavo Growers will post 1.87 EPS for the current year.

Institutional Trading of Calavo Growers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spire Wealth Management bought a new stake in Calavo Growers during the 2nd quarter valued at approximately $30,000. New York State Teachers Retirement System bought a new stake in Calavo Growers during the 1st quarter valued at $36,000. CWM LLC raised its position in shares of Calavo Growers by 5,960.5% in the 1st quarter. CWM LLC now owns 2,303 shares of the company's stock worth $55,000 after acquiring an additional 2,265 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Calavo Growers by 673.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company's stock worth $74,000 after acquiring an additional 2,416 shares in the last quarter. Finally, State of Wyoming acquired a new position in Calavo Growers during the 4th quarter valued at about $99,000. Institutional investors own 81.30% of the company's stock.

Calavo Growers Company Profile

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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