Mission Produce (NASDAQ:AVO) Hits New 12-Month High - Time to Buy?

Mission Produce, Inc. (NASDAQ:AVO - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.77 and last traded at $13.77, with a volume of 33486 shares trading hands. The stock had previously closed at $12.13.

Wall Street Analysts Forecast Growth

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

Mission Produce Stock Performance

The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The company's 50-day simple moving average is $12.15 and its 200-day simple moving average is $11.37. The stock has a market capitalization of $946.65 million, a price-to-earnings ratio of 40.45 and a beta of 0.50.

Mission Produce (NASDAQ:AVO - Get Free Report) last announced its quarterly earnings results on Monday, September 9th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.23. Mission Produce had a net margin of 2.06% and a return on equity of 6.69%. The firm had revenue of $324.00 million during the quarter, compared to analysts' expectations of $229.90 million. On average, analysts expect that Mission Produce, Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Mission Produce news, Director Taylor Family Investments, Llc sold 100,100 shares of the firm's stock in a transaction on 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 directly owns 8,630,002 shares in the company, valued at approximately $114,347,526.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Mission Produce news, Director Taylor Family Investments, Llc sold 100,100 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 8,630,002 shares of the company's stock, valued at approximately $114,347,526.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay A. Pack sold 22,000 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 1,115,160 shares in the company, valued at $14,954,295.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 296,059 shares of company stock worth $3,920,360. 41.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in Mission Produce by 245.2% during the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company's stock worth $52,000 after buying an additional 3,112 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Mission Produce in the second quarter worth about $53,000. Point72 Asset Management L.P. purchased a new position in shares of Mission Produce in the second quarter worth about $53,000. nVerses Capital LLC purchased a new position in Mission Produce during the second quarter valued at approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Mission Produce during the second quarter valued at approximately $73,000. 63.57% of the stock is owned by institutional investors.

About Mission Produce

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.