Stephens Increases Calavo Growers (NASDAQ:CVGW) Price Target to $40.00

Calavo Growers (NASDAQ:CVGW – Get Rating) had its price objective raised by investment analysts at Stephens to $40.00 in a report released on Thursday, Stock Target Advisor reports. Stephens’ price objective points to a potential upside of 3.68% from the company’s current price.

A number of other equities research analysts have also recently commented on CVGW. StockNews.com began coverage on shares of Calavo Growers in a report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Thursday, March 17th.

CVGW traded down $0.01 on Thursday, reaching $38.58. The company had a trading volume of 104,583 shares, compared to its average volume of 120,758. Calavo Growers has a 1 year low of $28.76 and a 1 year high of $69.85. The stock has a market capitalization of $684.49 million, a PE ratio of -22.56 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $35.09 and a 200-day moving average price of $38.98.

Calavo Growers (NASDAQ:CVGW – Get Rating) last announced its quarterly earnings results on Thursday, June 2nd. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Calavo Growers had a negative net margin of 2.59% and a positive return on equity of 0.41%. The firm had revenue of $331.42 million during the quarter, compared to analysts’ expectations of $316.85 million. During the same period in the previous year, the company earned $0.43 earnings per share. Calavo Growers’s quarterly revenue was up 19.7% compared to the same quarter last year. As a group, analysts expect that Calavo Growers will post 1.14 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVGW. Quadrant Capital Group LLC raised its holdings in Calavo Growers by 209.9% during the fourth quarter. Quadrant Capital Group LLC now owns 781 shares of the company’s stock worth $33,000 after purchasing an additional 529 shares in the last quarter. Parallel Advisors LLC grew its position in Calavo Growers by 640.7% during the first quarter. Parallel Advisors LLC now owns 1,000 shares of the company’s stock worth $37,000 after buying an additional 865 shares during the period. Point72 Hong Kong Ltd acquired a new position in Calavo Growers during the first quarter worth about $37,000. Signaturefd LLC grew its position in Calavo Growers by 596.4% during the fourth quarter. Signaturefd LLC now owns 954 shares of the company’s stock worth $40,000 after buying an additional 817 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in Calavo Growers by 335.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,415 shares of the company’s stock worth $59,000 after buying an additional 1,090 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

About Calavo Growers (Get Rating)

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 in three segments: Fresh Products, Calavo Foods, and Renaissance Food Group (RFG).

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