The IBD SmartSelect Composite Rating for Calavo Growers increased from 94 to 98 Monday.
The revised score means the stock currently tops 98% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher grade in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
Calavo Growers is not currently near a proper buy point. Look for the stock to form and break out of a new chart pattern. Note that it is a thinly traded stock, with average daily dollar volume under $8 million.
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One weak spot is the company's 77 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
The company reported 0% earnings-per-share growth for Q1. Top line growth increased 21%, up from 20% in the prior quarter. The company has now posted accelerating growth in each of the last two quarters.
Calavo Growers earns the No. 1 rank among its peers in the Food-Miscellaneous Preparation industry group. Chefs' Warehouse and Fresh Del Monte Produce are also among the group's highest-rated stocks.
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