Avocado supplier Mission Produce hits more than 4-month high after upbeat results

** Shares of avocado supplier Mission Produce Inc. (AVO.O) were up 4.5% on Wednesday and hit a more than 4-month high of $14.22 after it reported third-quarter revenue and EPS that beat Wall Street estimates.

** Total revenue for the quarter ended July 31 rose to $450.0 million, surpassing analyst expectations of $367.5 million, per LSEG data.

** On an adjusted basis, Mission earned 18 cents per share, also above the consensus estimate of 12 cents per share.

** The revenue increase was driven by a 38% rise in avocado volumes, helped by its recent acquisition of Calavo Growers.

** The median 12-month price target on the stock is $16.50; the stock was last at $13.45.

** Including the session move, AVO is up about 16% year to date, compared with a roughly 13% gain in the Nasdaq .IXIC.