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8 Low-Beta Stocks for a Market Correction

5. Calavo Growers (CVGW - Get Report) procures and markets avocados and other perishable commodities, and prepares and distributes processed avocado products. It offers a range of fresh and processed food products globally to food distributors, producers, wholesalers, supermarkets, and restaurants. The stock has a beta of 0.61

During the first quarter of 2011, net sales rose 36% to $91.3 million from $67.3 million, driven by increased sales of Mexican- and California-sourced avocados. The sales increase was partially offset by decreased sales from Chilean-sourced avocados, pineapples, as well as tomatoes. Net income inched up to $2.31 million from $2.27 million. Earnings per share remained flat at 16 cents.

The company recently signed an acquisition agreement for Renaissance Food Group, a closely-held fresh food company that produces, markets and distributes nationally a portfolio of healthy, premium lifestyle products for consumers via the retail channel. The acquired entity's 2011 revenue is expected to exceed $100 million.

Of the four analysts covering the stock, 50% recommend a buy and the remaining rate it a hold. There are no sell ratings. On average, analysts estimate 32.5% upside to $29 in value from current levels.

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SYM TRADE IT LAST %CHG
ATX $0.00 0.00%
BDE $7.25 0.00%
CVGW $41.95 0.00%
LWAY $18.73 0.00%
MKC $75.38 0.00%

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

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