Calavo Growers (NASDAQ:CVGW) Stock Rating Lowered by Wall Street Zen

Calavo Growers (NASDAQ:CVGW) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Separately, Lake Street Capital increased their target price on shares of Calavo Growers from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $40.00.

Calavo Growers Stock Down 1.4%

Calavo Growers stock opened at $27.37 on Friday. The stock has a market cap of $488.64 million, a price-to-earnings ratio of 31.10 and a beta of 0.39. The company has a current ratio of 2.30, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $27.02 and its two-hundred day moving average price is $25.96. Calavo Growers has a 52 week low of $21.46 and a 52 week high of $30.02.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Tuesday, September 9th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Calavo Growers had a net margin of 2.28% and a return on equity of 11.73%. The firm had revenue of $178.82 million for the quarter, compared to analysts’ expectations of $195.20 million. During the same quarter last year, the company earned $0.57 EPS. Calavo Growers’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts expect that Calavo Growers will post 1.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nuance Investments LLC boosted its holdings in shares of Calavo Growers by 6.4% in the first quarter. Nuance Investments LLC now owns 1,770,251 shares of the company’s stock worth $42,468,000 after buying an additional 106,736 shares during the period. Vanguard Group Inc. grew its position in Calavo Growers by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,161,996 shares of the company’s stock worth $27,876,000 after purchasing an additional 13,491 shares in the last quarter. Geode Capital Management LLC grew its position in Calavo Growers by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 481,601 shares of the company’s stock worth $12,807,000 after purchasing an additional 1,683 shares in the last quarter. Old West Investment Management LLC purchased a new position in Calavo Growers during the 2nd quarter worth approximately $11,364,000. Finally, Russell Investments Group Ltd. grew its position in Calavo Growers by 32.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 386,763 shares of the company’s stock worth $10,284,000 after purchasing an additional 94,073 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.