Calavo Growers (NASDAQ:CVGW) Given New $35.00 Price Target at Lake Street Capital

Calavo Growers (NASDAQ:CVGW - Get Free Report) had its target price decreased by research analysts at Lake Street Capital from $40.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Lake Street Capital's target price would indicate a potential upside of 55.42% from the company's current price.

Calavo Growers Stock Performance

NASDAQ CVGW traded down $1.64 during trading hours on Wednesday, reaching $22.52. 790,865 shares of the company were exchanged, compared to its average volume of 274,807. The stock has a market capitalization of $400.86 million, a P/E ratio of -45.04 and a beta of 0.58. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.18. Calavo Growers has a 1 year low of $20.30 and a 1 year high of $31.26. The business's 50 day simple moving average is $26.31 and its 200-day simple moving average is $25.67.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last issued its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a positive return on equity of 6.35% and a negative net margin of 1.21%. The company had revenue of $169.96 million for the quarter, compared to analysts' expectations of $161.99 million. During the same quarter in the previous year, the business earned ($0.33) EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts expect that Calavo Growers will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Calavo Growers

Several institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd raised its position in shares of Calavo Growers by 42.3% in the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company's stock valued at $93,000 after purchasing an additional 973 shares during the period. Janus Henderson Group PLC bought a new stake in Calavo Growers during the 3rd quarter valued at $219,000. LMR Partners LLP purchased a new stake in shares of Calavo Growers during the third quarter worth $253,000. Inspire Investing LLC bought a new position in shares of Calavo Growers in the second quarter worth $346,000. Finally, Quantbot Technologies LP purchased a new position in shares of Calavo Growers in the third quarter valued at $357,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.