Mission Produce (NASDAQ:AVO) Announces Earnings Results

Mission Produce (NASDAQ:AVO - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.22, Zacks reports. Mission Produce had a net margin of 2.06% and a return on equity of 6.69%. The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $268.40 million. Mission Produce's revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS.

Mission Produce Price Performance

Shares of NASDAQ AVO traded down $0.28 during trading on Thursday, hitting $12.32. The company had a trading volume of 573,364 shares, compared to its average volume of 224,537. Mission Produce has a fifty-two week low of $9.20 and a fifty-two week high of $14.17. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $11.66. The firm has a market capitalization of $873.62 million, a price-to-earnings ratio of 37.33 and a beta of 0.54.

Insider Buying and Selling

In related news, Director Taylor Family Investments, Llc sold 100,100 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $13.25, for a total value of $1,326,325.00. Following the completion of the sale, the director now owns 8,630,002 shares of the company's stock, valued at approximately $114,347,526.50. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jay A. Pack sold 22,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $13.41, for a total transaction of $295,020.00. Following the completion of the sale, the director now directly owns 1,115,160 shares of the company's stock, valued at approximately $14,954,295.60. This trade represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. 41.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AVO shares. Roth Mkm increased their price target on shares of Mission Produce from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Lake Street Capital reiterated a "buy" rating and issued a $15.00 price objective on shares of Mission Produce in a research note on Tuesday, September 10th.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.