Mission Produce (NASDAQ:AVO) Hits New 52-Week High - Should You Buy?

Shares of Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $15.25 and last traded at $14.98, with a volume of 451589 shares trading hands. The stock had previously closed at $12.32.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVO. Lake Street Capital restated a "buy" rating and set a $15.00 price target on shares of Mission Produce in a report on Tuesday, September 10th. Roth Mkm boosted their target price on shares of Mission Produce from $14.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, September 11th.

Mission Produce Stock Up 17.3 %

The company has a market cap of $1.02 billion, a P/E ratio of 43.79 and a beta of 0.54. The firm's 50 day moving average price is $12.83 and its two-hundred day moving average price is $11.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02.

Insider Activity

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 1.15 % 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. Company insiders own 41.60% of the company's stock.

Institutional Investors Weigh In On Mission Produce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its holdings in Mission Produce by 8.3% during the third quarter. Creative Planning now owns 11,226 shares of the company's stock worth $144,000 after buying an additional 858 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Mission Produce by 22.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,498 shares of the company's stock worth $123,000 after acquiring an additional 2,332 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Mission Produce by 18.7% in the second quarter. XTX Topco Ltd now owns 19,179 shares of the company's stock valued at $189,000 after purchasing an additional 3,025 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Mission Produce by 46.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,845 shares of the company's stock valued at $139,000 after purchasing an additional 3,455 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Mission Produce by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 161,591 shares of the company's stock worth $1,597,000 after purchasing an additional 4,160 shares during the last quarter. 63.57% of the stock is owned by institutional investors.

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.