Mission Produce (NASDAQ:AVO) Issues Earnings Results, Beats Estimates By $0.01 EPS

Mission Produce (NASDAQ:AVO) issued its quarterly earnings data on Wednesday. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01, MarketWatch Earnings reports.

Shares of AVO stock opened at $21.88 on Friday. The company’s 50-day moving average price is $20.08. Mission Produce has a fifty-two week low of $11.75 and a fifty-two week high of $22.40. The company has a market capitalization of $1.54 billion and a PE ratio of 28.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.74 and a quick ratio of 2.18.

AVO has been the subject of a number of recent research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “neutral” rating and set a $22.00 price objective (up from $16.00) on shares of Mission Produce in a research note on Monday, March 29th. Roth Capital increased their price target on Mission Produce from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, March 9th. Zacks Investment Research cut Mission Produce from a “buy” rating to a “hold” rating in a research note on Tuesday, March 23rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $22.00 price target on shares of Mission Produce in a research note on Wednesday, March 17th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.57.

In other news, Director Luis A. Gonzalez sold 350,000 shares of the company’s stock in a transaction on Thursday, April 8th. The stock was sold at an average price of $19.50, for a total transaction of $6,825,000.00. Following the completion of the sale, the director now directly owns 8,333 shares of the company’s stock, valued at $162,493.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Barnard bought 11,200 shares of Mission Produce stock in a transaction dated Tuesday, March 30th. The shares were bought at an average cost of $17.60 per share, with a total value of $197,120.00. The disclosure for this purchase can be found here. Insiders have sold 724,947 shares of company stock valued at $14,029,080 in the last ninety days. Company insiders own 47.00% 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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