Mission Produce (NASDAQ:AVO) Reaches New 12-Month High – Still a Buy?

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

Wall Street Analysts Forecast Growth

AVO has been the subject of a number of analyst reports. Lake Street Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Mission Produce in a research report on Tuesday, September 10th. Roth Mkm upped their price target on Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

Mission Produce Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02. The firm’s 50 day moving average is $12.83 and its 200-day moving average is $11.67. The company has a market cap of $1.02 billion, a PE ratio of 43.79 and a beta of 0.54.

Insider Activity

In other news, Director Taylor Family Investments, Llc sold 100,100 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $13.25, for a total transaction of $1,326,325.00. Following the completion of the transaction, the director now directly owns 8,630,002 shares in the company, valued at approximately $114,347,526.50. This represents a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVO. Point72 Asset Management L.P. acquired a new stake in Mission Produce in the second quarter valued at approximately $53,000. Point72 DIFC Ltd acquired a new stake in shares of Mission Produce in the 2nd quarter valued at $53,000. nVerses Capital LLC purchased a new stake in shares of Mission Produce during the 2nd quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Mission Produce during the second quarter worth $73,000. Finally, Quantbot Technologies LP purchased a new position 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.