Mission Produce (NASDAQ:AVO) Reaches New 1-Year High - Time to Buy?

Key Points

• Mission Produce (AVO) hit a new 52-week high of $15.04 during mid-day trading, last trading at $15.00 on a volume of 564,704 shares.
• Analysts have an average rating of "Moderate Buy" with an average price target of $17.00 (1 Strong Buy, 3 Buy, 2 Hold).
• The company beat quarterly EPS estimates ($0.10 vs. $0.07) despite revenue falling 26.1% year-over-year, and insiders own 30.85% of the stock with recent insider purchases reported.

Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.04 and last traded at $15.00, with a volume of 564704 shares trading hands. The stock had previously closed at $14.44.

Analyst Ratings Changes

A number of brokerages have issued reports on AVO. Weiss Ratings reiterated a "hold (c)" rating on shares of Mission Produce in a report on Wednesday, January 21st. Lake Street Capital reiterated a "buy" rating on shares of Mission Produce in a report on Thursday, January 15th. Finally, Freedom Capital upgraded shares of Mission Produce to a "strong-buy" rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.00.

Mission Produce Stock Performance

The business's fifty day simple moving average is $13.68 and its 200-day simple moving average is $12.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 1.86. The company has a market capitalization of $1.06 billion, a P/E ratio of 32.51 and a beta of 0.63.

Mission Produce (NASDAQ:AVO - Get Free Report) last posted its earnings results on Thursday, March 12th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.03. Mission Produce had a net margin of 2.48% and a return on equity of 8.24%. The firm had revenue of $278.60 million for the quarter, compared to the consensus estimate of $277.33 million. During the same period in the previous year, the firm posted $0.10 EPS. The business's quarterly revenue was down 26.1% on a year-over-year basis. As a group, equities analysts anticipate that Mission Produce, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Mission Produce

In other Mission Produce news, major shareholder Holdings Venture Globalharvest bought 3,695 shares of Mission Produce stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average cost of $11.94 per share, for a total transaction of $44,118.30. Following the acquisition, the insider directly owned 9,991,577 shares in the company, valued at approximately $119,299,429.38. This represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have bought 1,943,869 shares of company stock valued at $23,703,603. Insiders own 30.85% of the company's stock.

Institutional Trading of Mission Produce

Large investors have recently made changes to their positions in the business. Hussman Strategic Advisors Inc. bought a new stake in shares of Mission Produce in the 3rd quarter worth about $505,000. Quantbot Technologies LP increased its holdings in shares of Mission Produce by 1,889.0% in the 3rd quarter. Quantbot Technologies LP now owns 39,979 shares of the company's stock worth $481,000 after buying an additional 37,969 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Mission Produce by 33.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,798 shares of the company's stock worth $731,000 after buying an additional 15,073 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Mission Produce by 33.7% in the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company's stock worth $56,000 after buying an additional 1,174 shares during the last quarter. Finally, State of Wyoming bought a new position in Mission Produce during the 3rd quarter valued at about $119,000. 63.57% of the stock is currently owned by institutional investors.

Mission Produce Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.