Calavo Growers (CVGW) is Reiterated by Lake Street to Buy, Raises Price Target to $ 71

Calavo Growers (CVGW) was Reiterated by Lake Street to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 71 from a previous price target of $68 . Lake Street advised their investors in a research report released on Sep 8, 2016.

Many Wall Street Analysts have commented on Calavo Growers. Wunderlich Initiated Calavo Growers on Jun 22, 2016 to “Buy”, Price Target of the shares are set at $75.

On the company’s financial health, Calavo Growers reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Sep 7, 2016. Analyst had a consensus of $0.61. The company had revenue of $263.10 million for the quarter, compared to analysts expectations of $255.99 million. The company’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Calavo Growers opened for trading at $61.42 and hit $69.5 on the upside on Wednesday, eventually ending the session at $68.73, with a gain of 15.53% or 9.24 points. The heightened volatility saw the trading volume jump to 1,389,599 shares. Company has a market cap of $1,198 M.

In a different news, on Jun 10, 2016, Marc Laurence Brown (director) sold 1,000 shares at $67.23 per share price. According to the SEC, on Jun 9, 2016, Steve Hollister (director) sold 1,000 shares at $65.90 per share price. On Apr 18, 2016, Kenneth J Catchot (President and COO) sold 45,000 shares at $55.58 per share price, according to the Form-4 filing with the securities and exchange commission.

Calavo Growers Inc. (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors produce wholesalers supermarkets convenience stores and restaurants. The Company sorts packs and/or ripens avocados tomatoes and/or Hawaiian grown papayas. The Company operates in three business segments: Fresh products Calavo Foods and Renaissance Food Group LLC (RFG). Its Fresh products segment is engaged in the distribution of avocados and other fresh produce products. Its Calavo Foods is engaged in the purchase manufacturing and distribution of prepared products including guacamole tortilla chips and salsa. The RFG segment is engaged in the manufacturing and distribution of fresh-cut fruit ready-to-eat vegetables recipe-ready vegetables and deli meat products.

Calavo Growers

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