Limoneira (NASDAQ:LMNR) Research Coverage Started at Lake Street Capital

Lake Street Capital began coverage on shares of Limoneira (NASDAQ:LMNR) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $19.00 price target on the stock.

A number of other research firms also recently issued reports on LMNR. Zacks Research raised shares of Limoneira from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of Limoneira in a report on Monday. Roth Capital reaffirmed a “buy” rating on shares of Limoneira in a report on Monday, September 15th. Finally, Stephens began coverage on Limoneira in a research report on Friday, September 12th. They issued an “equal weight” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.50.

Limoneira Stock Performance

NASDAQ LMNR opened at $12.78 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.35 and a quick ratio of 1.27. Limoneira has a 1-year low of $12.20 and a 1-year high of $25.20. The business has a 50 day simple moving average of $13.78 and a two-hundred day simple moving average of $14.79. The stock has a market capitalization of $231.57 million, a PE ratio of -13.74 and a beta of 0.39.

Limoneira Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Tuesday, December 30th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, December 30th. Limoneira’s dividend payout ratio is presently -32.26%.

Institutional Trading of Limoneira

Several institutional investors have recently added to or reduced their stakes in LMNR. BNP Paribas Financial Markets grew its stake in shares of Limoneira by 64.8% during the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock valued at $27,000 after buying an additional 668 shares during the last quarter. CWM LLC boosted its holdings in Limoneira by 144.3% during the 3rd quarter. CWM LLC now owns 2,450 shares of the company’s stock valued at $36,000 after acquiring an additional 1,447 shares during the period. Byrne Asset Management LLC grew its position in Limoneira by 33.1% in the 2nd quarter. Byrne Asset Management LLC now owns 5,151 shares of the company’s stock valued at $81,000 after acquiring an additional 1,282 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Limoneira in the 3rd quarter valued at $151,000. Finally, Walleye Capital LLC purchased a new stake in Limoneira in the second quarter worth $220,000. Institutional investors own 64.35% of the company’s stock.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.