Citigroup Upgrades Mission Produce (NASDAQ:AVO) to Buy

Mission Produce (NASDAQ:AVOGet Rating) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report released on Thursday, April 7th, MarketBeat reports. The brokerage presently has a $18.00 price objective on the stock, down from their prior price objective of $20.00. Citigroup’s target price suggests a potential upside of 39.75% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Stephens dropped their price objective on Mission Produce from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, December 23rd. Zacks Investment Research upgraded Mission Produce from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Finally, TheStreet cut Mission Produce from a “c-” rating to a “d+” rating in a research report on Tuesday, January 11th.

Shares of NASDAQ:AVO traded up $0.24 during mid-day trading on Thursday, reaching $12.88. 99,879 shares of the company traded hands, compared to its average volume of 137,186. The company’s 50 day moving average price is $12.67 and its 200-day moving average price is $15.24. The firm has a market cap of $909.74 million, a PE ratio of 30.63, a PEG ratio of 2.62 and a beta of 0.39. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.13 and a quick ratio of 1.45. Mission Produce has a 52 week low of $11.04 and a 52 week high of $22.93.

Mission Produce (NASDAQ:AVOGet Rating) last issued its quarterly earnings data on Thursday, March 10th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.23). Mission Produce had a return on equity of 6.38% and a net margin of 3.13%. The firm had revenue of $216.60 million for the quarter, compared to analysts’ expectations of $243.24 million. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis. On average, research analysts predict that Mission Produce will post 0.46 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of AVO. Goldman Sachs Group Inc. grew its stake in Mission Produce by 8.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 98,996 shares of the company’s stock worth $1,820,000 after purchasing an additional 8,005 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Mission Produce during the 4th quarter worth $76,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Mission Produce during the 4th quarter worth about $373,000. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Mission Produce by 1.5% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 602,294 shares of the company’s stock worth $11,070,000 after acquiring an additional 9,141 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Mission Produce by 89.6% in the 3rd quarter. Citigroup Inc. now owns 4,773 shares of the company’s stock valued at $88,000 after purchasing an additional 2,256 shares during the period. Hedge funds and other institutional investors own 37.30% of the company’s stock.

About Mission Produce (Get Rating)

Mission Produce, Inc engages in sourcing, producing, packaging, and distributing avocados in the United States and internationally. The company operates through two segments, Marketing and Distribution, and International Farming. It also provides value-added services, including ripening, bagging, custom packing, and logistical management.

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