Shares of Mission Produce, Inc. (NASDAQ:AVO – Get Free Report) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.00.
AVO has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Mission Produce in a research note on Friday, October 9th. Santander started coverage on shares of Mission Produce in a report on Wednesday, October 21st. They issued an “outperform” rating on the stock. Roth Capital restated a “buy” rating and issued a $17.00 price objective on shares of Mission Produce in a research report on Thursday, September 10th. Weiss Ratings downgraded shares of Mission Produce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen raised Mission Produce from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th.
Get Our Latest Stock Analysis on Mission Produce
Insider Buying and Selling
In other news, Chairman Stephen J. Barnard sold 111,358 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $13.01, for a total transaction of $1,448,767.58. Following the transaction, the chairman directly owned 1,695,185 shares of the company’s stock, valued at approximately $22,054,356.85. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Luis A. Gonzalez bought 29,996 shares of Mission Produce stock in a transaction dated Friday, October 9th. The shares were acquired at an average cost of $11.59 per share, for a total transaction of $347,653.64. Following the completion of the purchase, the director directly owned 7,004,139 shares of the company’s stock, valued at approximately $81,177,971.01. This trade represents a 0.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 250,062 shares of company stock valued at $3,238,747 in the last ninety days. 30.85% of the stock is currently owned by corporate insiders.
Institutional Trading of Mission Produce
Several institutional investors and hedge funds have recently bought and sold shares of AVO. Virtus Advisers LLC grew its holdings in shares of Mission Produce by 16.8% during the 3rd quarter. Virtus Advisers LLC now owns 10,484 shares of the company’s stock worth $137,000 after acquiring an additional 1,505 shares during the period. Principal Financial Group Inc. raised its position in shares of Mission Produce by 5.9% in the 2nd quarter. Principal Financial Group Inc. now owns 37,509 shares of the company’s stock worth $442,000 after acquiring an additional 2,082 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Mission Produce in the 2nd quarter valued at approximately $26,000. Avion Wealth lifted its stake in shares of Mission Produce by 40.5% in the 3rd quarter. Avion Wealth now owns 8,676 shares of the company’s stock valued at $112,000 after purchasing an additional 2,500 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Mission Produce by 20.8% in the 2nd quarter. Arizona State Retirement System now owns 15,236 shares of the company’s stock valued at $180,000 after purchasing an additional 2,628 shares during the period. 63.57% of the stock is currently owned by hedge funds and other institutional investors.
Mission Produce Price Performance
Mission Produce stock opened at $11.85 on Wednesday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 395.13 and a beta of 0.45. The company has a quick ratio of 1.24, a current ratio of 1.92 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $12.29 and a 200 day simple moving average of $12.84. Mission Produce has a 52 week low of $10.07 and a 52 week high of $15.53.
Mission Produce (NASDAQ:AVO – Get Free Report) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. The company had revenue of $450.00 million for the quarter, compared to analysts’ expectations of $367.57 million. Mission Produce had a net margin of 0.12% and a return on equity of 5.91%. Mission Produce’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. On average, research analysts forecast that Mission Produce will post 0.61 earnings per share for the current fiscal year.
Mission Produce Company Profile
Mission Produce is a global producer, packer and distributor of fresh avocados and other fruit. The company sources produce from growing regions around the world and provides services that include packing, ripening, quality control and distribution. Founded in 1983 by Steve Barnard, Mission Produce has built a global supply chain serving customers in North America, Europe and Asia. Its sourcing network includes countries such as Mexico, Peru, Chile and Colombia, helping supply fruit across different growing seasons.
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