Weiss Ratings Reiterates "Hold (C)" Rating for Calavo Growers (NASDAQ:CVGW)

Key Points

• Calavo Growers has received a "hold (C)" rating from Weiss Ratings, reflecting a cautious outlook on the stock's performance.
• Lake Street Capital raised its target price for Calavo Growers' shares from $35.00 to $40.00 while giving it a "buy" rating, contrasting with other analysts who have downgraded their ratings.
• The company's recent quarterly earnings report showed an EPS of $0.57, slightly exceeding estimates, but revenue declined by 0.4% from the same quarter last year.

Calavo Growers (NASDAQ:CVGW - Get Free Report)'s stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

CVGW has been the subject of several other reports. Lake Street Capital upped their target price on shares of Calavo Growers from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Wall Street Zen lowered Calavo Growers from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Stephens upgraded Calavo Growers to a "hold" rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.00.

Calavo Growers Trading Down 0.4%

NASDAQ CVGW traded down $0.11 during trading hours on Wednesday, hitting $25.30. 182,352 shares of the company's stock were exchanged, compared to its average volume of 242,347. The stock has a 50-day simple moving average of $26.99 and a 200 day simple moving average of $26.39. Calavo Growers has a 1-year low of $21.46 and a 1-year high of $30.02. The firm has a market cap of $451.61 million, a price-to-earnings ratio of 28.75 and a beta of 0.41. The company has a current ratio of 2.30, a quick ratio of 1.86 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.The firm had revenue of $178.82 million during the quarter, compared to analysts' expectations of $195.20 million. During the same quarter last year, the firm posted $0.57 earnings per share. The company's revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts forecast that Calavo Growers will post 1.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nuance Investments LLC grew its holdings in shares of Calavo Growers by 6.4% during the 1st quarter. Nuance Investments LLC now owns 1,770,251 shares of the company's stock worth $42,468,000 after acquiring an additional 106,736 shares during the period. Vanguard Group Inc. grew its holdings in shares of Calavo Growers by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,161,996 shares of the company's stock worth $27,876,000 after acquiring an additional 13,491 shares during the period. Geode Capital Management LLC grew its holdings in shares of Calavo Growers by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 481,601 shares of the company's stock worth $12,807,000 after acquiring an additional 1,683 shares during the period. Old West Investment Management LLC purchased a new stake in shares of Calavo Growers in the 2nd quarter worth approximately $11,364,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Calavo Growers by 32.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company's stock worth $10,284,000 after buying an additional 94,073 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company's stock.

About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.

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