Mission Produce (NASDAQ:AVO) Sets New 12-Month High – Should You Buy?

Mission Produce, Inc. (NASDAQ:AVO) shares reached a new 52-week high during trading on Friday . The company traded as high as $14.31 and last traded at $14.33, with a volume of 129188 shares changing hands. The stock had previously closed at $13.93.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, January 21st. Zacks Research downgraded shares of Mission Produce from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Lake Street Capital reissued a “buy” rating on shares of Mission Produce in a research report on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Mission Produce Trading Up 3.3%

The business’s 50 day simple moving average is $12.66 and its 200 day simple moving average is $12.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.95 and a quick ratio of 1.35. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 27.65 and a beta of 0.62.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings results on Thursday, December 18th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $301.60 million. During the same period in the prior year, the business earned $0.28 EPS. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. Research analysts anticipate that Mission Produce, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Mission Produce

In other news, major shareholder Holdings Venture Globalharvest acquired 71,750 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were purchased at an average cost of $13.80 per share, for a total transaction of $990,150.00. Following the transaction, the insider directly owned 9,770,608 shares in the company, valued at approximately $134,834,390.40. This represents a 0.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 2,141,484 shares of company stock worth $25,996,353 over the last three months. 35.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in Mission Produce by 228.4% in the 1st quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock valued at $1,004,000 after purchasing an additional 66,640 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Mission Produce by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock worth $271,000 after buying an additional 1,092 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Mission Produce by 10.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company’s stock worth $1,711,000 after buying an additional 15,076 shares in the last quarter. Jane Street Group LLC raised its position in Mission Produce by 179.7% during the first quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock worth $690,000 after acquiring an additional 42,284 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Mission Produce in the first quarter valued at about $581,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.