Limoneira Co (NASDAQ:LMNR) Given Average Recommendation of “Hold” by Analysts

Limoneira Co (NASDAQ:LMNR) has been given an average recommendation of “Hold” by the five research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $20.50.

Several brokerages have commented on LMNR. Stephens started coverage on Limoneira in a research note on Friday, September 12th. They issued an “equal weight” rating and a $18.00 target price for the company. Roth Capital reissued a “buy” rating on shares of Limoneira in a report on Monday, September 15th. Zacks Research raised Limoneira from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Limoneira in a research note on Thursday, November 20th.

Limoneira Stock Up 1.6%

Limoneira stock opened at $13.88 on Friday. The firm has a 50 day simple moving average of $14.26 and a 200 day simple moving average of $15.11. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.35. Limoneira has a 1-year low of $12.69 and a 1-year high of $28.17. The firm has a market capitalization of $250.42 million, a price-to-earnings ratio of -25.23 and a beta of 0.42.

Limoneira Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Monday, October 6th were given a $0.075 dividend. The ex-dividend date was Monday, October 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.2%. Limoneira’s payout ratio is presently -54.55%.

Institutional Investors Weigh In On Limoneira

Several institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of Limoneira by 45.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 42,256 shares of the company’s stock worth $749,000 after buying an additional 13,243 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Limoneira in the first quarter worth $4,487,000. Global Alpha Capital Management Ltd. boosted its holdings in Limoneira by 0.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 3,278,681 shares of the company’s stock valued at $58,098,000 after acquiring an additional 14,500 shares in the last quarter. Nuveen LLC purchased a new position in Limoneira during the 1st quarter valued at $1,028,000. Finally, American Century Companies Inc. boosted its stake in shares of Limoneira by 9.9% during the 1st quarter. American Century Companies Inc. now owns 35,331 shares of the company’s stock valued at $626,000 after purchasing an additional 3,171 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Company Profile

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.