Limoneira (NASDAQ:LMNR) Rating Increased to Hold at Zacks Investment Research

Limoneira (NASDAQ:LMNR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Limoneira Company is an agribusiness and real estate development company. Its current operations consist of fruit production and marketing, real estate development and capital investment activities. Limoneira has three business segments: agribusiness, rental operations, and real estate development. The agribusiness segment includes its farming and lemon packing operations. The Company produces lemons, avocados, oranges, and other specialty crops. The rental operations segment includes housing, organic recycling, commercial and leased land operations. The real estate development segment includes its real estate projects and development. Limoneira Company is based in Santa Paula, California. “

Shares of LMNR stock opened at $15.17 on Thursday. The firm’s 50 day moving average price is $15.56 and its two-hundred day moving average price is $16.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.19. The stock has a market cap of $268.51 million, a PE ratio of -65.96, a PEG ratio of 3.42 and a beta of 1.03. Limoneira has a 52-week low of $14.16 and a 52-week high of $20.74.

Limoneira (NASDAQ:LMNR) last posted its earnings results on Monday, January 10th. The company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.02). Limoneira had a negative return on equity of 1.77% and a negative net margin of 2.07%. During the same quarter last year, the business earned ($0.42) earnings per share. As a group, sell-side analysts predict that Limoneira will post 0.31 earnings per share for the current fiscal year.

In other Limoneira news, Director Donald R. Rudkin sold 11,648 shares of Limoneira stock in a transaction on Tuesday, January 11th. The shares were sold at an average price of $16.01, for a total value of $186,484.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.82% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Limoneira by 16.1% during the 2nd quarter. Vanguard Group Inc. now owns 803,192 shares of the company’s stock worth $14,096,000 after acquiring an additional 111,145 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Limoneira by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 614,476 shares of the company’s stock worth $10,784,000 after buying an additional 7,711 shares during the last quarter. State Street Corp raised its holdings in shares of Limoneira by 6.3% in the second quarter. State Street Corp now owns 301,112 shares of the company’s stock valued at $5,285,000 after purchasing an additional 17,772 shares during the last quarter. AXA S.A. raised its holdings in shares of Limoneira by 24.8% in the second quarter. AXA S.A. now owns 270,137 shares of the company’s stock valued at $4,741,000 after purchasing an additional 53,762 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Limoneira by 0.6% during the third quarter. Geode Capital Management LLC now owns 248,975 shares of the company’s stock worth $4,025,000 after buying an additional 1,504 shares during the last quarter. Institutional investors own 47.80% of the company’s stock.

About Limoneira

Limoneira Co is an agribusiness and real estate development company, which engages in the innovation of agricultural citrus industry in California. It operates through the following three divisions: Agribusiness, Rental Operations, and Real Estate Development. The Agribusiness division is comprised of three operating segments: fresh lemons, lemon packing and other agribusiness, which includes avocados, oranges, specialty citrus and other crops.

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