Mission Produce's (AVO) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Mission Produce's stock has been reaffirmed with a "hold (c)" rating by Weiss Ratings, indicating a cautious stance on its current market performance.
• Roth Capital upgraded its target price for Mission Produce from $16.00 to $17.00 while maintaining a "buy" rating, contrasting with Zacks Research's downgrade to a "hold."
• Shares of Mission Produce closed at $11.76, showing a 1.0% increase during trading hours, with a current market capitalization of approximately $830.49 million.

Mission Produce (NASDAQ:AVO - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other analysts have also issued reports on AVO. Roth Capital upped their target price on shares of Mission Produce from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Zacks Research lowered shares of Mission Produce from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Stephens assumed coverage on shares of Mission Produce in a research note on Friday, September 12th. They issued an "overweight" rating and a $17.00 target price for the company. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Mission Produce Stock Up 1.0%

Shares of AVO traded up $0.12 during trading hours on Wednesday, reaching $11.76. The stock had a trading volume of 295,072 shares, compared to its average volume of 359,828. Mission Produce has a 12 month low of $9.56 and a 12 month high of $15.25. The firm has a 50-day simple moving average of $12.41 and a 200 day simple moving average of $11.52. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $830.49 million, a price-to-earnings ratio of 21.78 and a beta of 0.56.

Institutional Trading of Mission Produce

Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its position in Mission Produce by 53.6% in the first quarter. Teacher Retirement System of Texas now owns 121,111 shares of the company's stock worth $1,269,000 after acquiring an additional 42,269 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Mission Produce during the first quarter valued at $1,339,000. Nuveen LLC bought a new position in Mission Produce during the first quarter valued at $1,137,000. Magnetar Financial LLC bought a new position in Mission Produce during the first quarter valued at $401,000. Finally, Russell Investments Group Ltd. raised its stake in Mission Produce by 6,802.2% in the 1st quarter. Russell Investments Group Ltd. now owns 105,534 shares of the company's stock valued at $1,104,000 after acquiring an additional 104,005 shares during the period. Institutional investors own 63.57% of the company's stock.

Mission Produce Company Profile

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.

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