President and CEO of Calavo Growers, Inc. (NASDAQ:CVGW), Lee Cole, has been buying company shares over the past few months. Shares of the international consumer goods and farm products company traded over 2% higher in Friday’s extended trade.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
In the most recent transaction, Cole bought 75,000 shares of CVGW stock on July 12 and July 13, at a weighted average price of $30.34 per share. The transaction’s total consideration stands at about $2.28 million.
Prior to this, the CEO purchased 100,000 shares of the company for a total value of $2.61 million in March. With the completion of the latest transaction, the firm now holds 515,000 shares of the company, worth $15.9 million.
Considering the optimistic outlook of this key insider, it would be prudent to anticipate some positive developments in the company’s future.
As per the data collected by TipRanks, Cole has had a success rate of 71% in his seven transactions over the past three months, with an average return of 5.4% per transaction.
Interestingly, TipRanks offers daily insider transactions as well as a list of the top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Calavo Growers a Buy?
CVGW stock has gained about 6% over the past three months. Calavo has been benefitting from investments to build capacity, a growing employee base, and rising demand for avocados, the company’s main offering, in international markets.
On TipRanks, CVGW stock has a Moderate Buy consensus rating based on one Buy and one Hold. The average stock price target of $36.50 implies 18% upside potential.
