Mission Produce (NASDAQ:AVO) Issues Quarterly Earnings Results

Mission Produce (NASDAQ:AVO) posted its quarterly earnings results on Wednesday. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01, MarketWatch Earnings reports.

AVO stock traded down $0.64 during midday trading on Friday, reaching $21.24. The stock had a trading volume of 229 shares, compared to its average volume of 198,765. The firm has a market cap of $1.50 billion and a PE ratio of 28.05. The company has a current ratio of 2.74, a quick ratio of 2.18 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $20.08. Mission Produce has a 52-week low of $11.75 and a 52-week high of $22.40.

A number of research firms recently commented on AVO. Zacks Investment Research cut Mission Produce from a “buy” rating to a “hold” rating in a research report on Tuesday, March 23rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a “neutral” rating and set a $22.00 price target (up previously from $16.00) on shares of Mission Produce in a report on Monday, March 29th. Roth Capital boosted their price target on Mission Produce from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, March 9th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $22.00 price target on shares of Mission Produce in a report on Wednesday, March 17th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Mission Produce has a consensus rating of “Buy” and an average price target of $19.57.

In other news, CEO Stephen J. Barnard bought 11,200 shares of Mission Produce stock in a transaction that occurred on Tuesday, March 30th. The stock was bought at an average price of $17.60 per share, for a total transaction of $197,120.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Luis A. Gonzalez sold 24,947 shares of the firm’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $22.07, for a total value of $550,580.29. Following the completion of the transaction, the director now owns 13,361 shares of the company’s stock, valued at approximately $294,877.27. The disclosure for this sale can be found here. Insiders sold a total of 724,947 shares of company stock valued at $14,029,080 in the last 90 days. 47.00% of the stock is currently owned by company insiders.

About Mission Produce

Mission Produce, Inc engages in sourcing, producing, and distributing avocados in the United States and internationally. The company operates through two segments, Marketing and Distribution, and International Farming. It serves retail, wholesale, and foodservice customers. The company was founded in 1983 and is headquartered in Oxnard, California.

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