Calavo Growers (NASDAQ:CVGW) Rating Increased to Buy at BidaskClub

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Calavo Growers (NASDAQ:CVGW) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday, October 19th.

A number of other brokerages have also issued reports on CVGW. Zacks Investment Research lowered Calavo Growers from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Vertical Group lowered Calavo Growers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Lake Street Capital set a $109.00 target price on Calavo Growers and gave the company a “buy” rating in a research report on Friday, September 7th. Finally, Buckingham Research lowered Calavo Growers from a “buy” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research report on Tuesday, September 4th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $101.50.

Shares of Calavo Growers stock traded up $0.23 on Friday, hitting $99.24. 106,593 shares of the company were exchanged, compared to its average volume of 114,763. Calavo Growers has a 1-year low of $70.00 and a 1-year high of $108.00. The stock has a market cap of $1.76 billion, a P/E ratio of 46.59 and a beta of 0.48.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings data on Wednesday, September 5th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. Calavo Growers had a return on equity of 18.68% and a net margin of 4.04%. The firm had revenue of $296.50 million for the quarter, compared to analysts’ expectations of $305.12 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Calavo Growers will post 2.87 earnings per share for the current fiscal year.

In related news, Chairman Lecil E. Cole sold 100,296 shares of the stock in a transaction on Friday, September 21st. The stock was sold at an average price of $103.68, for a total value of $10,398,689.28. Following the transaction, the chairman now owns 571,071 shares of the company’s stock, valued at $59,208,641.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Laurence Brown sold 343 shares of the company’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $95.74, for a total transaction of $32,838.82. Following the completion of the transaction, the director now owns 11,343 shares of the company’s stock, valued at approximately $1,085,978.82. The disclosure for this sale can be found here. Insiders sold 101,639 shares of company stock worth $10,531,528 in the last three months. 8.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVGW. Brown Advisory Inc. boosted its stake in Calavo Growers by 5,534.0% in the first quarter. Brown Advisory Inc. now owns 485,256 shares of the company’s stock valued at $44,739,000 after acquiring an additional 476,643 shares in the last quarter. BlackRock Inc. boosted its stake in Calavo Growers by 11.1% in the second quarter. BlackRock Inc. now owns 2,306,604 shares of the company’s stock valued at $221,781,000 after acquiring an additional 231,375 shares in the last quarter. Copper Rock Capital Partners LLC boosted its stake in shares of Calavo Growers by 198.5% during the second quarter. Copper Rock Capital Partners LLC now owns 213,402 shares of the company’s stock worth $20,295,000 after buying an additional 141,914 shares during the period. Cortina Asset Management LLC boosted its stake in shares of Calavo Growers by 58.7% during the second quarter. Cortina Asset Management LLC now owns 293,504 shares of the company’s stock worth $28,220,000 after buying an additional 108,551 shares during the period. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Calavo Growers by 85.9% during the third quarter. Rice Hall James & Associates LLC now owns 169,196 shares of the company’s stock worth $16,344,000 after buying an additional 78,197 shares during the period. Institutional investors own 89.58% of the company’s stock.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.

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