Mission Produce, Inc. (NASDAQ:AVO) Receives Average Rating of “Moderate Buy” from Brokerages

Mission Produce, Inc. (NASDAQ:AVO) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.00.

Several research analysts recently commented on the company. Freedom Capital raised Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th. Lake Street Capital reaffirmed a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, January 21st.

Insider Activity

In related news, major shareholder Holdings Venture Globalharvest bought 3,695 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average cost of $11.94 per share, with a total value of $44,118.30. Following the purchase, the insider directly owned 9,991,577 shares of the company’s stock, valued at $119,299,429.38. The trade was a 0.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders acquired 612,715 shares of company stock valued at $7,849,797. 30.85% of the stock is owned by company insiders.

Institutional Trading of Mission Produce

A number of hedge funds and other institutional investors have recently modified their holdings of AVO. GAMMA Investing LLC increased its stake in shares of Mission Produce by 673.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock worth $29,000 after acquiring an additional 2,136 shares during the last quarter. Quarry LP acquired a new stake in shares of Mission Produce in the 3rd quarter worth $29,000. Leonteq Securities AG acquired a new stake in shares of Mission Produce in the 4th quarter worth $31,000. State of Alaska Department of Revenue acquired a new stake in shares of Mission Produce in the 3rd quarter worth $33,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Mission Produce by 211.8% in 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. 63.57% of the stock is owned by institutional investors and hedge funds.

Mission Produce Stock Up 3.7%

NASDAQ AVO opened at $14.29 on Friday. The business has a fifty day moving average price of $13.87 and a 200 day moving average price of $12.79. Mission Produce has a one year low of $10.00 and a one year high of $15.53. 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 company has a market cap of $1.01 billion, a P/E ratio of 31.07 and a beta of 0.63.

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

Mission Produce Company Profile

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.