Mission Produce, Inc. (NASDAQ:AVO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Mission Produce, Inc. (NASDAQ:AVO) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.00.

A number of equities research analysts have issued reports on AVO shares. Freedom Capital raised Mission Produce to a “strong-buy” rating in a research report on Thursday, March 19th. Lake Street Capital reaffirmed a “buy” rating on shares of Mission Produce in a report on Thursday, January 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, January 21st.

Insider Activity

In other Mission Produce news, major shareholder Holdings Venture Globalharvest acquired 3,695 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average cost of $11.94 per share, for a total transaction of $44,118.30. Following the completion of the purchase, the insider owned 9,991,577 shares of the company’s stock, valued at approximately $119,299,429.38. This trade represents a 0.04% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought 2,032,674 shares of company stock valued at $24,734,289 over the last 90 days. Company insiders own 30.85% of the company’s stock.

Institutional Trading of Mission Produce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Mission Produce by 673.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock worth $29,000 after buying an additional 2,136 shares during the period. Quarry LP bought a new position in Mission Produce during the third quarter worth $29,000. Leonteq Securities AG bought a new position in Mission Produce during the fourth quarter worth $31,000. State of Alaska Department of Revenue acquired a new position in Mission Produce during the 3rd quarter valued at $33,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Mission Produce by 211.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock valued at $54,000 after purchasing an additional 3,158 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s stock.

Mission Produce Price Performance

NASDAQ AVO opened at $12.66 on Tuesday. Mission Produce has a fifty-two week low of $9.60 and a fifty-two week high of $15.02. The stock’s 50-day moving average is $13.49 and its two-hundred day moving average is $12.57. The firm has a market cap of $896.91 million, a P/E ratio of 27.52 and a beta of 0.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.86 and a quick ratio of 1.19.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Mission Produce had a return on equity of 8.24% and a net margin of 2.48%.The company had revenue of $278.60 million during the quarter, compared to the consensus estimate of $277.33 million. During the same quarter in the prior year, the company posted $0.10 EPS. The firm’s revenue was down 26.1% on a year-over-year basis. On average, analysts anticipate that Mission Produce will post 0.34 earnings per share for the current fiscal year.

Mission Produce Company Profile

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.