Mission Produce, Inc. (NASDAQ:AVO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Mission Produce, Inc. (NASDAQ:AVO) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $17.00.

AVO has been the topic of a number of analyst reports. Lake Street Capital reiterated a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Freedom Capital upgraded shares of Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research report on Wednesday, January 21st.

Insider Buying and Selling at Mission Produce

In other news, major shareholder Holdings Venture Globalharvest bought 985,704 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were bought at an average cost of $11.76 per share, with a total value of $11,591,879.04. Following the acquisition, the insider owned 8,837,286 shares in the company, valued at $103,926,483.36. This trade represents a 12.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have bought 2,003,630 shares of company stock worth $24,396,831. 30.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Mission Produce

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Mission Produce during the third quarter worth approximately $29,000. GAMMA Investing LLC lifted its position in shares of Mission Produce by 673.8% in the third quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock valued at $29,000 after buying an additional 2,136 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Mission Produce during the 4th quarter worth approximately $31,000. State of Alaska Department of Revenue bought a new position in shares of Mission Produce during the 3rd quarter worth approximately $33,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Mission Produce by 211.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after acquiring an additional 3,158 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

Mission Produce Price Performance

NASDAQ:AVO opened at $13.94 on Tuesday. Mission Produce has a 52-week low of $9.60 and a 52-week high of $15.02. The company has a market cap of $987.65 million, a P/E ratio of 30.31 and a beta of 0.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 1.86. The stock’s 50-day simple moving average is $13.56 and its 200 day simple moving average is $12.59.

Mission Produce (NASDAQ:AVO) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $278.60 million during the quarter, compared to analysts’ expectations of $277.33 million. Mission Produce had a return on equity of 8.24% and a net margin of 2.48%.The business’s quarterly revenue was down 26.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, sell-side analysts forecast that Mission Produce will post 0.34 EPS for the current fiscal year.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.