Mission Produce (NASDAQ:AVO) Sets New 1-Year Low – Should You Sell?

Mission Produce, Inc. (NASDAQ:AVO)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $10.31 and last traded at $10.3050, with a volume of 349272 shares traded. The stock had previously closed at $10.62.

Analyst Upgrades and Downgrades

AVO has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Mission Produce in a report on Monday, April 20th. Freedom Capital upgraded Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Mission Produce Stock Down 2.4%

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 firm has a fifty day simple moving average of $13.15 and a 200-day simple moving average of $12.94. The company has a market capitalization of $734.32 million, a PE ratio of 22.53 and a beta of 0.50.

Mission Produce (NASDAQ:AVO) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Mission Produce had a return on equity of 8.24% and a net margin of 2.48%.The company had revenue of $278.60 million for the quarter, compared to the consensus estimate of $277.33 million. During the same period in the previous year, the business earned $0.10 EPS. Mission Produce’s revenue for the quarter was down 26.1% compared to the same quarter last year. Equities research analysts anticipate that Mission Produce, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Mission Produce

In other Mission Produce news, major shareholder Holdings Venture Globalharvest acquired 3,695 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were bought 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 of the company’s stock, valued at $119,299,429.38. This trade represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 30.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mission Produce

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC raised its stake in Mission Produce by 1.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 100,025 shares of the company’s stock valued at $1,160,000 after acquiring an additional 958 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Mission Produce by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock valued at $271,000 after acquiring an additional 1,092 shares in the last quarter. AlphaQuest LLC raised its stake in Mission Produce by 33.7% during the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock valued at $56,000 after acquiring an additional 1,174 shares in the last quarter. Magnetar Financial LLC raised its stake in Mission Produce by 12.6% during the 3rd quarter. Magnetar Financial LLC now owns 12,106 shares of the company’s stock valued at $146,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Mission Produce by 12.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,375 shares of the company’s stock valued at $185,000 after acquiring an additional 1,667 shares in the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Mission Produce Company Profile

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.