Limoneira Co (NASDAQ:LMNR) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Limoneira Co (NASDAQ:LMNR) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.50.

Several analysts have commented on LMNR shares. Wall Street Zen upgraded shares of Limoneira from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Lake Street Capital cut their target price on Limoneira from $18.00 to $16.50 and set a “buy” rating on the stock in a research note on Thursday, September 10th. Weiss Ratings upgraded Limoneira from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 9th. Zacks Research cut shares of Limoneira from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Finally, Freedom Broker assumed coverage on Limoneira in a research note on Wednesday. They issued a “strong-buy” rating for the company.

Limoneira Stock Up 4.6%

NASDAQ LMNR opened at $10.52 on Thursday. The stock has a market capitalization of $190.75 million, a P/E ratio of -4.40 and a beta of 0.36. Limoneira has a 52 week low of $10.05 and a 52 week high of $15.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.51. The stock has a fifty day moving average of $12.33 and a 200-day moving average of $13.16.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.17). The firm had revenue of $43.81 million during the quarter, compared to the consensus estimate of $49.62 million. Limoneira had a negative net margin of 33.03% and a negative return on equity of 13.91%. On average, equities research analysts forecast that Limoneira will post -0.73 EPS for the current year.

Institutional Investors Weigh In On Limoneira

A number of hedge funds and other institutional investors have recently made changes to their positions in LMNR. Bank of America Corp DE lifted its position in Limoneira by 5.5% in the 1st quarter. Bank of America Corp DE now owns 16,559 shares of the company’s stock valued at $222,000 after acquiring an additional 859 shares in the last quarter. Flax Pond Capital LLC boosted its holdings in Limoneira by 0.7% during the first quarter. Flax Pond Capital LLC now owns 171,132 shares of the company’s stock worth $2,297,000 after purchasing an additional 1,224 shares during the last quarter. Leonteq Securities AG increased its position in shares of Limoneira by 88.8% in the first quarter. Leonteq Securities AG now owns 3,386 shares of the company’s stock valued at $45,000 after acquiring an additional 1,593 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of Limoneira in the 2nd quarter valued at approximately $33,000. Finally, Whittier Trust Co. grew its holdings in Limoneira by 16.0% during the first quarter. Whittier Trust Co. now owns 18,980 shares of the company’s stock worth $249,000 after purchasing an additional 2,612 shares during the period. 64.35% of the stock is currently owned by institutional investors and hedge funds.

About Limoneira

Limoneira Company is an agribusiness and real estate development company headquartered in Santa Paula, California. Founded in 1893, the company is one of the oldest and largest lemon producers in the United States and owns or manages agricultural land primarily in California and Arizona.

Limoneira grows, packs, markets and distributes lemons, avocados, oranges and other specialty citrus products. Its operations include orchard management, harvesting, packing and fresh-produce marketing, with products sold through retailers, foodservice providers and other commercial customers in the United States and international markets.

In addition to its agricultural activities, Limoneira owns land and pursues real estate development projects connected to its properties.