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

Mission Produce, Inc. (NASDAQ:AVOGet Free Report) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, 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 12-month price target among brokerages that have issued a report on the stock in the last year is $17.00.

AVO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research note on Monday, April 20th. Freedom Capital raised Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Lake Street Capital reissued a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th.

Get Our Latest Analysis on AVO

Insider Activity at Mission Produce

In other news, major shareholder Holdings Venture Globalharvest acquired 3,695 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average cost of $11.94 per share, for a total transaction of $44,118.30. Following the acquisition, the insider directly owned 9,991,577 shares in the company, valued at approximately $119,299,429.38. This represents a 0.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 30.85% of the stock is currently owned by insiders.

Institutional Trading of Mission Produce

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

Mission Produce Price Performance

AVO stock opened at $12.63 on Wednesday. Mission Produce has a 1 year low of $10.00 and a 1 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 stock’s 50 day moving average price is $13.65 and its 200 day moving average price is $12.98. The firm has a market cap of $894.84 million, a P/E ratio of 27.46 and a beta of 0.57.

Mission Produce (NASDAQ:AVOGet Free Report) last posted its earnings results on Thursday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $277.33 million. During the same quarter in the prior year, the company earned $0.10 EPS. Mission Produce’s revenue was down 26.1% on a year-over-year basis. On average, sell-side analysts expect that Mission Produce will post 0.6 earnings per share for the current fiscal year.

About Mission Produce

(Get Free Report)

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.

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Analyst Recommendations for Mission Produce (NASDAQ:AVO)

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