Mission Produce (NASDAQ:AVO) Now Covered by Stephens

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.

Stephens initiated coverage on shares of Mission Produce (NASDAQ:AVO - Free Report) in a report released on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $17.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Roth Capital increased their price target on Mission Produce from $16.00 to $17.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Zacks Research cut Mission Produce from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Mission Produce Stock Up 1.6%

Shares of NASDAQ AVO traded up $0.20 during mid-day trading on Friday, reaching $13.09. The company had a trading volume of 228,226 shares, compared to its average volume of 349,979. The stock has a fifty day moving average of $12.38 and a two-hundred day moving average of $11.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 2.04. The company has a market capitalization of $924.42 million, a price-to-earnings ratio of 24.21 and a beta of 0.57. Mission Produce has a 12-month low of $9.56 and a 12-month high of $15.25.

Institutional Trading of Mission Produce

Several institutional investors have recently added to or reduced their stakes in AVO. PNC Financial Services Group Inc. raised its stake in Mission Produce by 123.1% in the first 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 holdings in shares of 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 during the last quarter. Ameriflex Group Inc. purchased a new position in Mission Produce in the 4th quarter valued at approximately $57,000. State of Wyoming purchased a new position in Mission Produce in the 4th quarter valued at approximately $63,000. Finally, Diversified Trust Co purchased a new stake in shares of Mission Produce during the 1st quarter worth $137,000. Institutional investors own 63.57% of the company's stock.

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.