Calavo Growers (CVGW) Crumbles: Stock Falls by 6.7% - Tale of the Tape
Calavo Growers Inc. (CVGW) saw a big move last session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for CVGW, as the stock is now down by nearly 16% since Dec 30.
On Jan 15, the company reported a fiscal fourth-quarter loss of $208 million. Notably, they reported a profit in the year-ago quarter.
The company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (1 increase, 1 decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
CVGW currently has a Zacks Rank #3 (Hold).
A better ranked stock in the broader agriculture sector is Wilmar International Limited (WLMIY), holding a Zacks Rank #1 (Strong Buy).
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