Calavo Growers (NASDAQ:CVGW) Price Target Cut to $35.00 by Analysts at Lake Street Capital

by · The Markets Daily

Calavo Growers (NASDAQ:CVGW – Get Free Report) had its price target dropped by investment analysts at Lake Street Capital from $40.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price objective indicates a potential upside of 55.69% from the stock’s current price.

Calavo Growers Price Performance

NASDAQ:CVGW traded down $1.68 during trading hours on Wednesday, hitting $22.48. The company’s stock had a trading volume of 485,510 shares, compared to its average volume of 239,959. Calavo Growers has a 52-week low of $20.30 and a 52-week high of $31.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04. The business’s 50-day moving average is $26.31 and its two-hundred day moving average is $25.67. The company has a market capitalization of $400.14 million, a PE ratio of -44.96 and a beta of 0.58.

Calavo Growers (NASDAQ:CVGW – Get Free Report) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. The company had revenue of $169.96 million during the quarter, compared to analyst estimates of $161.99 million. During the same quarter last year, the business earned ($0.33) EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts anticipate that Calavo Growers will post 1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Deprince Race & Zollo Inc. boosted its position in shares of Calavo Growers by 40.7% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 356,319 shares of the company’s stock worth $8,088,000 after buying an additional 103,024 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Calavo Growers in the third quarter valued at about $746,000. Barclays PLC grew 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 last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Calavo Growers by 111.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 60,861 shares of the company’s stock worth $1,382,000 after purchasing an additional 32,077 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C raised its position in shares of Calavo Growers by 566.9% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 70,514 shares of the company’s stock worth $1,601,000 after purchasing an additional 59,940 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

About Calavo Growers

(Get Free Report)

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.

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