Calavo Growers (NASDAQ:CVGW) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Calavo Growers, Inc. (NASDAQ:CVGW)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.85 and traded as high as $26.27. Calavo Growers shares last traded at $26.18, with a volume of 232,250 shares traded.

Analyst Ratings Changes

CVGW has been the subject of several recent research reports. Stephens dropped their target price on shares of Calavo Growers from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings raised shares of Calavo Growers from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Calavo Growers has a consensus rating of “Hold” and a consensus target price of $33.50.

Calavo Growers Stock Up 1.5%

The stock has a market cap of $467.94 million, a price-to-earnings ratio of 29.42 and a beta of 0.38. The company has a current ratio of 2.21, a quick ratio of 1.66 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $25.58 and its two-hundred day moving average is $23.85.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Thursday, March 12th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $122.20 million for the quarter, compared to analyst estimates of $138.45 million. Calavo Growers had a net margin of 2.61% and a return on equity of 12.81%. On average, sell-side analysts predict that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Institutional Trading of Calavo Growers

A number of hedge funds have recently bought and sold shares of CVGW. EP Wealth Advisors LLC purchased a new position in shares of Calavo Growers during the 4th quarter worth $237,000. Numerai GP LLC acquired a new stake in shares of Calavo Growers during the fourth quarter worth $997,000. Millennium Management LLC grew its position in shares of Calavo Growers by 23.4% in the fourth quarter. Millennium Management LLC now owns 53,905 shares of the company’s stock valued at $1,172,000 after purchasing an additional 10,208 shares during the period. Inspire Investing LLC increased its stake in Calavo Growers by 24.7% in the fourth quarter. Inspire Investing LLC now owns 21,771 shares of the company’s stock valued at $474,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Calavo Growers in the fourth quarter valued at $367,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

About Calavo Growers

Calavo Growers, Inc (NASDAQ:CVGW), founded in 1924 and headquartered in Santa Paula, California, is a global supplier and distributor of fresh avocados and perishable foods. The company partners with growers in key producing regions to source, ripen and package whole avocados for retail, wholesale and foodservice customers. Calavo’s commitment to quality and food safety underpins its position as a trusted link between growers and end-markets.

The company operates two segments: Fresh and Calavo Foods.