Mission Produce (NASDAQ:AVO) Announces Quarterly Earnings Results

Mission Produce (NASDAQ:AVO) posted its quarterly earnings results on Thursday. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.22, Zacks reports. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%.

Mission Produce Stock Down 2.2 %

Shares of NASDAQ AVO traded down $0.28 during midday trading on Thursday, hitting $12.32. 481,586 shares of the company’s stock were exchanged, compared to its average volume of 223,618. The firm’s fifty day simple moving average is $12.78 and its 200-day simple moving average is $11.65. The company has a market cap of $873.62 million, a PE ratio of 37.33 and a beta of 0.54. Mission Produce has a twelve month low of $9.20 and a twelve month high of $14.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.40.

Insider Activity at Mission Produce

In related news, Director Taylor Family Investments, Llc sold 100,100 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $13.25, for a total value of $1,326,325.00. Following the completion of the sale, the director now directly owns 8,630,002 shares of the company’s stock, valued at $114,347,526.50. This represents a 1.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay A. Pack sold 22,000 shares of Mission Produce stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $13.41, for a total value of $295,020.00. Following the transaction, the director now directly owns 1,115,160 shares in the company, valued at approximately $14,954,295.60. This trade represents a 1.93 % decrease in their position. The disclosure for this sale can be found here. 41.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Lake Street Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Mission Produce in a report on Tuesday, September 10th. Roth Mkm raised 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.

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.