Stephens Begins Coverage on Mission Produce (NASDAQ:AVO)

Key Points

• Stephens has initiated coverage on Mission Produce (NASDAQ: AVO) with an "overweight" rating and a price target of $17.00, indicating a potential upside of 39.46% from its current price.
• Other analysts have mixed ratings, with Zacks downgrading the stock from "strong-buy" to "hold," while Roth Capital increased their target price to $17.00.
• A number of institutional investors have recently increased their stakes, with hedge funds now owning 63.57% of the company's stock.

Investment analysts at Stephens started coverage on shares of Mission Produce (NASDAQ:AVO - Get Free Report) in a research report issued on Friday. The brokerage set an "overweight" rating and a $17.00 price target on the stock. Stephens' price target would suggest a potential upside of 39.46% from the stock's current price.

Several other analysts also recently weighed in on the company. Zacks Research downgraded Mission Produce from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Roth Capital boosted their price target on Mission Produce from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Mission Produce presently has an average rating of "Moderate Buy" and an average target price of $17.00.

Mission Produce Stock Up 3.8%

Shares of AVO stock opened at $12.19 on Friday. Mission Produce has a 1-year low of $9.56 and a 1-year high of $15.25. The stock's fifty day moving average price is $12.33 and its 200 day moving average price is $11.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.04 and a quick ratio of 1.23. The company has a market cap of $860.86 million, a price-to-earnings ratio of 22.57 and a beta of 0.57.

Hedge Funds Weigh In On Mission Produce

A number of large investors have recently bought and sold shares of AVO. PNC Financial Services Group Inc. increased its stake in Mission Produce by 123.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,950 shares of the company's stock worth $31,000 after buying an additional 1,628 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Mission Produce by 211.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company's stock worth $54,000 after buying an additional 3,158 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in Mission Produce during the 4th quarter worth approximately $57,000. State of Wyoming purchased a new stake in Mission Produce during the 4th quarter worth approximately $63,000. Finally, Diversified Trust Co purchased a new stake in Mission Produce during the 1st quarter worth approximately $137,000. Institutional investors and hedge funds 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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