StockNews.com Downgrades Calavo Growers (NASDAQ:CVGW) to Hold

Calavo Growers (NASDAQ:CVGW) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Separately, Lake Street Capital reduced their price objective on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

Calavo Growers Price Performance

NASDAQ CVGW opened at $24.06 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $429.16 million, a PE ratio of -401.00 and a beta of 0.57. The company has a 50 day moving average price of $23.39 and a two-hundred day moving average price of $25.75. Calavo Growers has a 12-month low of $20.30 and a 12-month high of $30.58.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The business had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. Calavo Growers’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.33) earnings per share. As a group, equities analysts predict that Calavo Growers will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of Calavo Growers

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Calavo Growers in the fourth quarter worth $1,371,000. JPMorgan Chase & Co. raised its stake in Calavo Growers by 221.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company’s stock valued at $3,533,000 after purchasing an additional 85,272 shares during the last quarter. Barclays PLC raised its stake in Calavo Growers by 338.3% during the 3rd quarter. Barclays PLC now owns 26,625 shares of the company’s stock valued at $759,000 after purchasing an additional 20,551 shares during the last quarter. Verition Fund Management LLC acquired a new position in Calavo Growers during the 3rd quarter valued at $746,000. Finally, Weiss Asset Management LP acquired a new position in Calavo Growers during the 3rd quarter valued at $1,378,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.