Calavo Growers (NASDAQ:CVGW) Downgraded to Hold Rating by StockNews.com

Calavo Growers (NASDAQ:CVGW) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Lake Street Capital dropped their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

Calavo Growers Trading Down 0.8 %

Shares of CVGW opened at $24.31 on Friday. The stock’s fifty day simple moving average is $23.37 and its 200-day simple moving average is $25.72. Calavo Growers has a 12-month low of $20.30 and a 12-month high of $30.58. The firm has a market capitalization of $433.62 million, a PE ratio of -405.17 and a beta of 0.57. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The company had revenue of $169.96 million for the quarter, compared to analyst estimates of $161.99 million. Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the firm earned ($0.33) earnings per share. As a group, research analysts predict that Calavo Growers will post 1.87 earnings per share for the current year.

Institutional Investors Weigh In On Calavo Growers

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in Calavo Growers in the 4th quarter valued at $1,371,000. JPMorgan Chase & Co. increased its holdings in shares of Calavo Growers by 221.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company’s stock worth $3,533,000 after acquiring an additional 85,272 shares during the last quarter. Barclays PLC raised its position in shares of Calavo Growers by 338.3% in the third quarter. Barclays PLC now owns 26,625 shares of the company’s stock valued at $759,000 after purchasing an additional 20,551 shares during the period. Verition Fund Management LLC acquired a new stake in Calavo Growers during the third quarter worth approximately $746,000. Finally, Weiss Asset Management LP acquired a new stake in Calavo Growers during the 3rd quarter worth approximately $1,378,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Calavo Growers Company Profile

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.