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

Shares of Mission Produce, Inc. (NASDAQ:AVO) have been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $17.00.

AVO has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Mission Produce in a research note on Monday, April 20th. Freedom Capital raised shares of Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th.

Insider Transactions at Mission Produce

In other Mission Produce news, major shareholder Holdings Venture Globalharvest purchased 3,695 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was purchased at an average cost of $11.94 per share, for a total transaction of $44,118.30. Following the transaction, the insider owned 9,991,577 shares in the company, valued at $119,299,429.38. The trade was a 0.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 30.85% of the company’s stock.

Hedge Funds Weigh In On Mission Produce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC increased its position in Mission Produce by 1.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 100,025 shares of the company’s stock valued at $1,160,000 after acquiring an additional 958 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mission Produce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock valued at $271,000 after acquiring an additional 1,092 shares during the period. AlphaQuest LLC increased its position in Mission Produce by 33.7% in the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock valued at $56,000 after acquiring an additional 1,174 shares during the period. Magnetar Financial LLC increased its position in Mission Produce by 12.6% in the 3rd quarter. Magnetar Financial LLC now owns 12,106 shares of the company’s stock valued at $146,000 after acquiring an additional 1,351 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Mission Produce by 12.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,598 shares of the company’s stock valued at $218,000 after acquiring an additional 2,040 shares during the period. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Mission Produce Price Performance

Shares of NASDAQ:AVO opened at $10.22 on Friday. The company has a market cap of $724.09 million, a price-to-earnings ratio of 22.22 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.86 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $13.09 and a 200 day simple moving average of $12.92. Mission Produce has a one year low of $10.21 and a one year high of $15.53.

Mission Produce (NASDAQ:AVO) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $278.60 million during the quarter, compared to the consensus estimate of $277.33 million. Mission Produce had a net margin of 2.48% and a return on equity of 8.24%. The firm’s revenue was down 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. Research analysts predict that Mission Produce will post 0.6 earnings per share for the current fiscal year.

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.