Lake Street Capital Reaffirms Buy Rating for Calavo Growers (CVGW)

Lake Street Capital reiterated their buy rating on shares of Calavo Growers (NASDAQ:CVGW) in a research report report published on Wednesday, Marketbeat.com reports. They currently have a $91.00 price objective on the stock, up from their previous price objective of $76.00.

CVGW has been the topic of several other reports. Zacks Investment Research raised shares of Calavo Growers from a hold rating to a buy rating and set a $79.00 price target on the stock in a research note on Tuesday, August 22nd. BidaskClub cut shares of Calavo Growers from a buy rating to a hold rating in a research note on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $88.00.

Shares of Calavo Growers (NASDAQ CVGW) opened at $78.70 on Wednesday. The firm has a market cap of $1,380.00, a PE ratio of 36.95 and a beta of 0.65. Calavo Growers has a 52 week low of $48.75 and a 52 week high of $83.00.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Tuesday, December 19th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. The business had revenue of $277.20 million for the quarter, compared to analysts’ expectations of $297.40 million. Calavo Growers had a net margin of 3.47% and a return on equity of 16.01%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. equities analysts anticipate that Calavo Growers will post 2.86 earnings per share for the current fiscal year.

The firm also recently disclosed an annual dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a $0.95 dividend. This is a positive change from Calavo Growers’s previous annual dividend of $0.90. This represents a yield of 1.29%. The ex-dividend date of this dividend was Thursday, November 16th. Calavo Growers’s dividend payout ratio is currently 44.60%.

In related news, insider James E. Snyder sold 750 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total value of $52,642.50. Following the transaction, the insider now directly owns 11,095 shares in the company, valued at $778,758.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC raised its holdings in Calavo Growers by 561.8% in the second quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock worth $122,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Calavo Growers during the second quarter worth $128,000. Pinebridge Investments L.P. raised its holdings in shares of Calavo Growers by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after acquiring an additional 29 shares during the period. Aviance Capital Management LLC acquired a new stake in shares of Calavo Growers during the second quarter worth $153,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Calavo Growers by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,444 shares of the company’s stock worth $169,000 after acquiring an additional 367 shares during the period. Institutional investors own 92.17% of the company’s stock.

WARNING: “Lake Street Capital Reaffirms Buy Rating for Calavo Growers (CVGW)” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.com-unik.info/2017/12/24/lake-street-capital-reaffirms-buy-rating-for-calavo-growers-cvgw.html.

Calavo Growers Company Profile

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).

Receive News & Ratings for Calavo Growers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calavo Growers and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit