Mission Produce (NASDAQ:AVO) Sets New 1-Year High – Time to Buy?

Shares of Mission Produce, Inc. (NASDAQ:AVO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $13.77 and last traded at $13.77, with a volume of 33486 shares trading hands. The stock had previously closed at $12.13.

Wall Street Analysts Forecast Growth

AVO has been the topic of a number of analyst reports. Lake Street Capital reissued a “buy” rating and issued a $15.00 target price on shares of Mission Produce in a report on Tuesday, September 10th. Roth Mkm boosted their price objective on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

Mission Produce Stock Performance

The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $931.76 million, a P/E ratio of 40.09 and a beta of 0.50. The company’s 50 day moving average is $12.15 and its 200-day moving average is $11.37.

Mission Produce (NASDAQ:AVO) last issued its earnings results on Monday, September 9th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.23. The company had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $229.90 million. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. As a group, equities analysts anticipate that Mission Produce, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling

In related news, Director Jay A. Pack sold 72,054 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $13.30, for a total transaction of $958,318.20. Following the transaction, the director now directly owns 384,823 shares in the company, valued at approximately $5,118,145.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Mission Produce news, Director Luis A. Gonzalez sold 49,331 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.03, for a total value of $642,782.93. Following the transaction, the director now directly owns 7,398,902 shares in the company, valued at $96,407,693.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay A. Pack sold 72,054 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $13.30, for a total transaction of $958,318.20. Following the sale, the director now owns 384,823 shares of the company’s stock, valued at approximately $5,118,145.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 296,059 shares of company stock worth $3,920,360. 41.60% of the stock is owned by corporate insiders.

Institutional Trading of Mission Produce

A number of institutional investors have recently modified their holdings of AVO. Creative Planning grew its position in Mission Produce by 8.3% during the third quarter. Creative Planning now owns 11,226 shares of the company’s stock worth $144,000 after buying an additional 858 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Mission Produce by 15.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock valued at $166,000 after acquiring an additional 1,870 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Mission Produce by 22.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,498 shares of the company’s stock worth $123,000 after purchasing an additional 2,332 shares during the period. XTX Topco Ltd increased its stake in shares of Mission Produce by 18.7% in the 2nd quarter. XTX Topco Ltd now owns 19,179 shares of the company’s stock worth $189,000 after acquiring an additional 3,025 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Mission Produce by 245.2% in the 1st quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock worth $52,000 after purchasing an additional 3,112 shares in the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.