Calavo Growers (NASDAQ:CVGW) posted its earnings results on Thursday, September 5th. The company reported $0.91 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91, Briefing.com reports. Calavo Growers had a return on equity of 17.89% and a net margin of 2.54%. The company had revenue of $359.30 million during the quarter, compared to analyst estimates of $327.83 million. During the same period in the previous year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Calavo Growers updated its FY19 guidance to +20% to $2.99 EPS.
NASDAQ CVGW traded up $0.74 on Friday, reaching $94.04. The stock had a trading volume of 1,587 shares, compared to its average volume of 177,305. The company has a market cap of $1.64 billion, a P/E ratio of 37.84 and a beta of 1.00. Calavo Growers has a 1-year low of $67.52 and a 1-year high of $105.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.06. The firm has a fifty day moving average of $90.17 and a two-hundred day moving average of $90.94.
Several equities analysts recently issued reports on CVGW shares. BidaskClub upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Zacks Investment Research cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Lake Street Capital upped their price objective on Calavo Growers from $94.00 to $104.00 in a research note on Friday, June 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $96.50.
In other news, Director Der Kar Scott Van sold 525 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $95.43, for a total transaction of $50,100.75. Following the completion of the transaction, the director now directly owns 1,750 shares in the company, valued at $167,002.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marc Laurence Brown sold 375 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $97.84, for a total value of $36,690.00. Following the transaction, the director now owns 13,375 shares of the company’s stock, valued at $1,308,610. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,290 shares of company stock valued at $12,553,004. 7.30% of the stock is owned by corporate insiders.
About Calavo Growers
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. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.
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