StockNews.com Upgrades Limoneira (NASDAQ:LMNR) to “Hold”

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

LMNR has been the topic of several other reports. Lake Street Capital reaffirmed a hold rating and issued a $25.00 price objective on shares of Limoneira in a report on Tuesday. B. Riley increased their price target on Limoneira from $24.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $25.33.

Limoneira Price Performance

Shares of NASDAQ LMNR opened at $24.37 on Wednesday. Limoneira has a 52 week low of $13.88 and a 52 week high of $25.89. The business’s 50 day moving average price is $22.14 and its 200 day moving average price is $20.61. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.31. The firm has a market cap of $438.81 million, a P/E ratio of -187.42, a P/E/G ratio of 7.55 and a beta of 0.47.

Limoneira Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, July 8th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, July 8th. Limoneira’s dividend payout ratio is currently -230.77%.

Institutional Trading of Limoneira

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its stake in shares of Limoneira by 48.9% during the 1st quarter. Covestor Ltd now owns 5,764 shares of the company’s stock worth $113,000 after acquiring an additional 1,893 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Limoneira by 60.8% during the first quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock worth $165,000 after purchasing an additional 3,199 shares in the last quarter. Bulldog Investors LLP acquired a new stake in Limoneira in the fourth quarter valued at approximately $413,000. American Century Companies Inc. increased its position in shares of Limoneira by 32.9% in the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock valued at $462,000 after buying an additional 5,498 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Limoneira by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock worth $473,000 after buying an additional 1,565 shares during the period. Institutional investors and hedge funds 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.