Mission Produce, Inc. (NASDAQ:AVO) Receives $17.00 Average Target Price from Analysts

Mission Produce, Inc. (NASDAQ:AVO) has earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.00.

AVO has been the subject of several research reports. Lake Street Capital reaffirmed a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, January 21st. Finally, Freedom Capital raised shares of Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th.

Insider Transactions at Mission Produce

In other Mission Produce news, major shareholder Holdings Venture Globalharvest acquired 3,695 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was bought at an average price of $11.94 per share, with a total value of $44,118.30. Following the purchase, the insider owned 9,991,577 shares in the company, valued at approximately $119,299,429.38. The trade was a 0.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have bought 312,715 shares of company stock worth $4,099,797. 30.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Mission Produce

Several hedge funds have recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its stake in shares of Mission Produce by 1.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 100,025 shares of the company’s stock valued at $1,160,000 after buying an additional 958 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Mission Produce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock valued at $271,000 after buying an additional 1,092 shares during the period. AlphaQuest LLC grew its stake in shares of Mission Produce by 33.7% in the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock valued at $56,000 after buying an additional 1,174 shares during the period. Magnetar Financial LLC grew its stake in shares of Mission Produce by 12.6% in the 3rd quarter. Magnetar Financial LLC now owns 12,106 shares of the company’s stock valued at $146,000 after buying an additional 1,351 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Mission Produce by 12.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,375 shares of the company’s stock valued at $185,000 after buying an additional 1,667 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Mission Produce Stock Down 6.1%

AVO opened at $13.42 on Friday. Mission Produce has a twelve month low of $10.00 and a twelve month high of $15.53. The company has a market cap of $950.81 million, a PE ratio of 29.17 and a beta of 0.63. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $13.86 and a 200 day moving average price of $12.81.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. Mission Produce had a net margin of 2.48% and a return on equity of 8.24%. The company had revenue of $278.60 million during the quarter, compared to analysts’ expectations of $277.33 million. During the same quarter in the prior year, the company earned $0.10 EPS. Mission Produce’s revenue was down 26.1% compared to the same quarter last year. Sell-side analysts expect that Mission Produce will post 0.6 earnings per share for the current fiscal year.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.