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

Shares of Mission Produce, Inc. (NASDAQ:AVO) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $16.6667.

Several research analysts recently weighed in on the stock. UBS Group set a $16.00 price target on shares of Mission Produce in a report on Wednesday, June 10th. Freedom Capital raised shares of Mission Produce to a “strong-buy” rating in a research report on Thursday, March 19th. Weiss Ratings downgraded Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen lowered Mission Produce from a “hold” rating to a “sell” rating in a report on Saturday, June 13th.

Mission Produce Price Performance

AVO opened at $13.50 on Thursday. Mission Produce has a 1 year low of $10.07 and a 1 year high of $15.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 1.12. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 42.19 and a beta of 0.49. The firm’s fifty day moving average price is $12.02 and its two-hundred day moving average price is $12.88.

Mission Produce declared that its board has authorized a stock buyback program on Monday, June 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 13.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Mission Produce

In related news, Director Jay A. Pack purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average cost of $12.10 per share, with a total value of $484,000.00. Following the acquisition, the director owned 579,965 shares of the company’s stock, valued at $7,017,576.50. This represents a 7.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce C. Taylor acquired 300,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average price of $11.29 per share, with a total value of $3,387,000.00. Following the acquisition, the director directly owned 455,842 shares of the company’s stock, valued at $5,146,456.18. The trade was a 192.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,580,117 shares of company stock worth $18,770,684 in the last quarter. 30.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVO. AQR Capital Management LLC increased its stake in shares of Mission Produce by 228.4% during the 1st quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock worth $1,004,000 after purchasing an additional 66,640 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mission Produce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock worth $271,000 after buying an additional 1,092 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Mission Produce by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company’s stock valued at $1,711,000 after buying an additional 15,076 shares during the period. Jane Street Group LLC raised its stake in shares of Mission Produce by 179.7% in the first quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock valued at $690,000 after buying an additional 42,284 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Mission Produce during the 1st quarter valued at $581,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

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.