StockNews.com Downgrades Limoneira (NASDAQ:LMNR) to Sell

StockNews.com lowered shares of Limoneira (NASDAQ:LMNR) from a hold rating to a sell rating in a report issued on Wednesday morning.

Several other equities research analysts have also commented on LMNR. B. Riley upped their price target on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Lake Street Capital reiterated a “hold” rating and issued a $25.00 price target on shares of Limoneira in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.33.

Limoneira Stock Up 2.0 %

Limoneira stock opened at $24.40 on Wednesday. Limoneira has a one year low of $17.37 and a one year high of $29.22. The stock has a fifty day moving average of $26.81 and a 200 day moving average of $24.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. The stock has a market cap of $441.23 million, a PE ratio of 84.14 and a beta of 0.49.

Limoneira Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be given a dividend of $0.075 per share. The ex-dividend date is Monday, December 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.23%. Limoneira’s payout ratio is currently 78.95%.

Institutional Investors Weigh In On Limoneira

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMNR. BNP Paribas Financial Markets lifted its holdings in Limoneira by 14.3% during the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock valued at $92,000 after purchasing an additional 436 shares in the last quarter. Global Alpha Capital Management Ltd. raised its position in shares of Limoneira by 3.0% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 3,299,703 shares of the company’s stock valued at $87,442,000 after purchasing an additional 96,054 shares during the period. PEAK6 Investments LLC bought a new stake in shares of Limoneira during the 3rd quarter valued at $255,000. Riverwater Partners LLC lifted its stake in shares of Limoneira by 47.3% during the 3rd quarter. Riverwater Partners LLC now owns 200,423 shares of the company’s stock valued at $5,245,000 after buying an additional 64,392 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Limoneira by 27.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 36,999 shares of the company’s stock worth $980,000 after buying an additional 8,051 shares during the period. 64.35% of the stock is owned by hedge funds and other institutional investors.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.