Calavo Growers (NASDAQ:CVGW) Rating Increased to Buy at StockNews.com

Calavo Growers (NASDAQ:CVGW - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.

Separately, Lake Street Capital dropped their price target on Calavo Growers from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th.

Calavo Growers Price Performance

NASDAQ:CVGW traded up $0.68 during mid-day trading on Thursday, reaching $23.83. 219,846 shares of the stock were exchanged, compared to its average volume of 199,520. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $23.35 and a 200 day moving average price of $25.74. Calavo Growers has a 1-year low of $20.30 and a 1-year high of $30.58. The firm has a market capitalization of $424.17 million, a PE ratio of -397.17 and a beta of 0.57.

Calavo Growers (NASDAQ:CVGW - Get Free Report) last posted its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The business had revenue of $169.96 million for the quarter, compared to the consensus estimate of $161.99 million. During the same quarter last year, the business posted ($0.33) EPS. The business's revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts expect that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

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Institutional Trading of Calavo Growers

A number of hedge funds have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Calavo Growers in the fourth quarter worth $26,000. Van ECK Associates Corp increased its holdings in shares of Calavo Growers by 69.1% in the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company's stock valued at $65,000 after purchasing an additional 1,039 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Calavo Growers in the 4th quarter valued at about $76,000. Aquatic Capital Management LLC purchased a new stake in shares of Calavo Growers in the fourth quarter worth approximately $86,000. Finally, Point72 DIFC Ltd boosted its holdings in shares of Calavo Growers by 42.3% during the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company's stock worth $93,000 after purchasing an additional 973 shares during the period. 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.