Calavo Growers (NASDAQ:CVGW) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Calavo Growers, Inc. (NASDAQ:CVGW) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.85 and traded as high as $26.27. Calavo Growers shares last traded at $26.18, with a volume of 232,250 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Calavo Growers from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings raised Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Finally, Stephens dropped their target price on Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.50.

Calavo Growers Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.21 and a quick ratio of 1.66. The company’s fifty day moving average price is $25.59 and its 200 day moving average price is $23.87. The company has a market cap of $479.81 million, a PE ratio of 30.17 and a beta of 0.38.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $122.20 million during the quarter, compared to the consensus estimate of $138.45 million. Calavo Growers had a net margin of 2.61% and a return on equity of 12.81%. On average, equities research analysts predict that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Institutional Trading of Calavo Growers

A number of institutional investors and hedge funds have recently modified their holdings of the business. Garner Asset Management Corp purchased a new position in Calavo Growers in the fourth quarter worth $26,000. Quarry LP bought a new stake in shares of Calavo Growers during the 3rd quarter worth $28,000. Royal Bank of Canada boosted its holdings in shares of Calavo Growers by 43.0% in the 4th quarter. Royal Bank of Canada now owns 1,692 shares of the company’s stock worth $37,000 after buying an additional 509 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Calavo Growers by 145.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,407 shares of the company’s stock worth $52,000 after buying an additional 1,426 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Calavo Growers by 673.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock valued at $74,000 after buying an additional 2,416 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

About Calavo Growers

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.