Calavo Growers (NASDAQ:CVGW) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Calavo Growers (NASDAQ:CVGW) had its target price boosted by investment analysts at Lake Street Capital from $35.00 to $40.00 in a report issued on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital’s price target indicates a potential upside of 44.09% from the company’s current price.

Separately, Wall Street Zen cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Calavo Growers presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Calavo Growers Stock Performance

NASDAQ:CVGW opened at $27.76 on Wednesday. The stock has a 50-day moving average price of $27.03 and a 200 day moving average price of $25.94. The stock has a market capitalization of $495.52 million, a P/E ratio of 31.55 and a beta of 0.39. Calavo Growers has a 12-month low of $21.46 and a 12-month high of $30.02. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Tuesday, September 9th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $178.82 million during the quarter, compared to the consensus estimate of $195.20 million. Calavo Growers had a return on equity of 11.73% and a net margin of 2.28%.The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. Equities research analysts forecast that Calavo Growers will post 1.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Calavo Growers

Large investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in Calavo Growers during the second quarter worth $289,000. Tower Research Capital LLC TRC grew its holdings in Calavo Growers by 673.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,775 shares of the company’s stock valued at $74,000 after purchasing an additional 2,416 shares during the last quarter. FFT Wealth Management LLC raised its position in Calavo Growers by 14.3% in the 2nd quarter. FFT Wealth Management LLC now owns 21,400 shares of the company’s stock worth $577,000 after purchasing an additional 2,675 shares during the period. Lazard Asset Management LLC lifted its stake in Calavo Growers by 224.8% in the second quarter. Lazard Asset Management LLC now owns 7,468 shares of the company’s stock worth $198,000 after purchasing an additional 5,169 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its position in shares of Calavo Growers by 1.1% during the second quarter. Engineers Gate Manager LP now owns 38,354 shares of the company’s stock valued at $1,020,000 after buying an additional 422 shares during the period. Institutional investors own 81.30% of the company’s stock.

About Calavo Growers

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.