Mission Produce (NASDAQ:AVO) Hits New 52-Week High – Should You Buy?

Mission Produce, Inc. (NASDAQ:AVO) reached a new 52-week high during trading on Tuesday . The company traded as high as $13.77 and last traded at $13.77, with a volume of 33486 shares. The stock had previously closed at $12.13.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVO shares. Roth Mkm increased their price objective on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Lake Street Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Mission Produce in a research report on Tuesday, September 10th.

Mission Produce Stock Up 8.3 %

The company has a market capitalization of $931.76 million, a PE ratio of 40.09 and a beta of 0.50. The business’s 50-day simple moving average is $12.15 and its 200-day simple moving average is $11.37. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings data on Monday, September 9th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.23. Mission Produce had a net margin of 2.06% and a return on equity of 6.69%. The company had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $229.90 million. As a group, equities research analysts anticipate that Mission Produce, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other Mission Produce news, Director Luis A. Gonzalez sold 49,331 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $13.03, for a total transaction of $642,782.93. Following the completion of the transaction, the director now owns 7,398,902 shares of the company’s stock, valued at $96,407,693.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Luis A. Gonzalez sold 49,331 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $13.03, for a total value of $642,782.93. Following the completion of the sale, the director now owns 7,398,902 shares of the company’s stock, valued at approximately $96,407,693.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay A. Pack sold 72,054 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $13.30, for a total transaction of $958,318.20. Following the transaction, the director now directly owns 384,823 shares in the company, valued at approximately $5,118,145.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 296,059 shares of company stock worth $3,920,360 over the last 90 days. 41.60% of the stock is currently owned by company insiders.

Institutional Trading of Mission Produce

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its holdings in shares of Mission Produce by 8.3% in the 3rd quarter. Creative Planning now owns 11,226 shares of the company’s stock worth $144,000 after acquiring an additional 858 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Mission Produce by 15.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock worth $166,000 after buying an additional 1,870 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Mission Produce by 22.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,498 shares of the company’s stock valued at $123,000 after buying an additional 2,332 shares in the last quarter. XTX Topco Ltd lifted its stake in Mission Produce by 18.7% during the 2nd quarter. XTX Topco Ltd now owns 19,179 shares of the company’s stock worth $189,000 after acquiring an additional 3,025 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Mission Produce by 245.2% during the 1st quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after acquiring an additional 3,112 shares during the period. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.