In a report released today, Ben Klieve from Lake Street reiterated a Buy rating on Calavo Growers (CVGW – Research Report), with a price target of $38.00. The company’s shares closed yesterday at $31.32.
Klieve covers the Basic Materials sector, focusing on stocks such as S&W Seed Company, Bioceres Crop Solutions, and Limoneira Co. According to TipRanks, Klieve has an average return of 13.2% and a 47.99% success rate on recommended stocks.
Currently, the analyst consensus on Calavo Growers is a Moderate Buy with an average price target of $36.50.
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Based on Calavo Growers’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $243.57 million and a GAAP net loss of $3.32 million. In comparison, last year the company earned a revenue of $273.42 million and had a GAAP net loss of $12.96 million
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVGW in relation to earlier this year. Most recently, in January 2023, Michael Anthony Digregorio, a Director at CVGW bought 2,000.00 shares for a total of $46,960.00.
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Calavo Growers, Inc. engages in marketing and distribution of avocados, prepared avocados, and other perishable foods. It operates through the following segments: Fresh Products, Calavo Foods, and Renaissance Food Group. The Fresh Products segment grades, sizes, packs, cools, and ripens avocados for delivery to the customers. The Calavo Foods segment procures and processes avocados into wide variety of guacamole products; and distributes the processed products to the customers. The Renaissance Food Group segment produces, markets, and distributes nationally a portfolio of healthy fresh packaged food products for consumers via the retail channel. Calavo Growers was founded in 1924 and is headquartered in Santa Paula, CA.
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