Mission Produce (NASDAQ:AVO) Rating Lowered to D+ at TheStreet

TheStreet downgraded shares of Mission Produce (NASDAQ:AVO) from a c- rating to a d+ rating in a report released on Tuesday morning, TheStreetRatingsTable reports.

A number of other equities analysts have also commented on the company. Citigroup dropped their price target on Mission Produce from $22.00 to $20.00 and set a neutral rating for the company in a research note on Tuesday, December 21st. Stephens lowered their price objective on Mission Produce from $25.00 to $20.00 and set an overweight rating for the company in a research note on Thursday, December 23rd. Finally, Zacks Investment Research lowered Mission Produce from a hold rating to a sell rating in a research note on Tuesday, December 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $21.67.

Shares of NASDAQ AVO opened at $13.86 on Tuesday. The company has a market cap of $978.96 million, a P/E ratio of 22.00, a P/E/G ratio of 1.08 and a beta of 0.14. The firm’s fifty day moving average is $17.59 and its two-hundred day moving average is $18.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.23 and a current ratio of 2.77. Mission Produce has a 52-week low of $13.77 and a 52-week high of $22.93.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings results on Wednesday, December 22nd. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Mission Produce had a net margin of 5.04% and a return on equity of 10.38%. The firm had revenue of $237.00 million for the quarter, compared to the consensus estimate of $264.09 million. During the same period in the previous year, the company posted $0.29 earnings per share. Mission Produce’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, analysts forecast that Mission Produce will post 0.83 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVO. BlackRock Inc. increased its holdings in Mission Produce by 405.3% during the 2nd quarter. BlackRock Inc. now owns 2,060,940 shares of the company’s stock worth $42,681,000 after purchasing an additional 1,653,037 shares during the period. Vanguard Group Inc. increased its holdings in shares of Mission Produce by 173.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,269,164 shares of the company’s stock valued at $26,284,000 after acquiring an additional 804,673 shares during the period. State Street Corp increased its holdings in shares of Mission Produce by 392.0% in the 2nd quarter. State Street Corp now owns 490,763 shares of the company’s stock valued at $10,164,000 after acquiring an additional 391,020 shares during the period. Geode Capital Management LLC increased its holdings in shares of Mission Produce by 175.5% in the 2nd quarter. Geode Capital Management LLC now owns 422,730 shares of the company’s stock valued at $8,754,000 after acquiring an additional 269,294 shares during the period. Finally, Bank of America Corp DE grew its stake in Mission Produce by 57.0% during the 2nd quarter. Bank of America Corp DE now owns 593,432 shares of the company’s stock worth $12,290,000 after buying an additional 215,441 shares during the last quarter. Institutional investors own 21.91% of the company’s stock.

Mission Produce Company Profile

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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