Mission Produce (NASDAQ:AVO) released its quarterly earnings results on Sunday. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03), MarketWatch Earnings reports.
AVO stock opened at $20.48 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.84 and a debt-to-equity ratio of 0.34. Mission Produce has a one year low of $11.75 and a one year high of $22.93. The firm has a market capitalization of $1.45 billion and a PE ratio of 26.26. The firm has a 50-day moving average of $19.80 and a two-hundred day moving average of $20.22.
Separately, Zacks Investment Research downgraded shares of Mission Produce from a “buy” rating to a “hold” rating in a report on Monday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $20.14.
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Mission Produce by 49.2% in the second quarter. Royal Bank of Canada now owns 5,694 shares of the company’s stock worth $118,000 after buying an additional 1,877 shares during the last quarter. Invesco Ltd. acquired a new position in Mission Produce during the second quarter valued at approximately $278,000. Finally, Morgan Stanley grew its holdings in Mission Produce by 256.5% during the second quarter. Morgan Stanley now owns 182,325 shares of the company’s stock valued at $3,775,000 after purchasing an additional 131,185 shares during the last quarter. Hedge funds and other institutional investors own 18.25% of the company’s stock.
About Mission Produce
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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