Mission Produce (NASDAQ:AVO) Reaches New 1-Year High – Time to Buy?

Mission Produce, Inc. (NASDAQ:AVO)’s stock price hit a new 52-week high on Friday . The stock traded as high as $15.25 and last traded at $14.98, with a volume of 451589 shares. The stock had previously closed at $12.32.

Wall Street Analysts Forecast Growth

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

Mission Produce Price Performance

The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 43.79 and a beta of 0.54. The company has a fifty day moving average price of $12.83 and a two-hundred day moving average price of $11.67.

Insider Activity

In other news, Director Taylor Family Investments, Llc sold 100,100 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $13.25, for a total transaction of $1,326,325.00. Following the transaction, the director now directly owns 8,630,002 shares in the company, valued at $114,347,526.50. The trade was a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Mission Produce

A number of institutional investors have recently added to or reduced their stakes in AVO. Point72 Asset Management L.P. purchased a new position in shares of Mission Produce during the 2nd quarter worth approximately $53,000. Point72 DIFC Ltd purchased a new stake in shares of Mission Produce in the second quarter valued at approximately $53,000. nVerses Capital LLC acquired a new position in Mission Produce during the second quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Mission Produce in the second quarter worth $73,000. Finally, Quantbot Technologies LP acquired a new stake in Mission Produce in the third quarter valued at $76,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

About Mission Produce

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.