Mission Produce (NASDAQ:AVO) Upgraded at Zacks Research

Key Points

• Mission Produce has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, indicating increased analyst confidence in the company's future performance.
• The stock currently has an average price target of $17.00 based on ratings from multiple analysts, with one giving it a Strong Buy rating and others assigning Buy or Hold ratings.
• Recent activity by institutional investors includes significant increases in holdings, with GAMMA Investing LLC raising its position by 673.8% in the third quarter, reflecting a growing interest in Mission Produce's stock.

Mission Produce (NASDAQ:AVO - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on AVO. Weiss Ratings restated a "hold (c)" rating on shares of Mission Produce in a report on Wednesday. Stephens started coverage on Mission Produce in a research note on Friday, September 12th. They issued an "overweight" rating and a $17.00 price objective for the company. Finally, Roth Capital lifted their target price on Mission Produce from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $17.00.

Mission Produce Stock Up 1.0%

AVO stock opened at $11.76 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.04 and a quick ratio of 1.30. The firm has a market capitalization of $830.49 million, a P/E ratio of 21.78 and a beta of 0.56. Mission Produce has a 52-week low of $9.56 and a 52-week high of $15.25. The company's 50 day simple moving average is $12.40 and its 200-day simple moving average is $11.52.

Institutional Investors Weigh In On Mission Produce

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Mission Produce by 673.8% during the third quarter. GAMMA Investing LLC now owns 2,453 shares of the company's stock worth $29,000 after buying an additional 2,136 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Mission Produce by 123.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,950 shares of the company's stock valued at $31,000 after acquiring an additional 1,628 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Mission Produce by 211.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company's stock valued at $54,000 after acquiring an additional 3,158 shares in the last quarter. Diversified Trust Co bought a new position in shares of Mission Produce in the 1st quarter valued at approximately $137,000. Finally, Walleye Capital LLC acquired a new stake in Mission Produce in the 2nd quarter worth approximately $137,000. 63.57% of the stock is currently owned by institutional investors.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.