5. Calavo Growers (CVGW) 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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