Limoneira (NASDAQ:LMNR) Stock Passes Above 200-Day Moving Average – Should You Sell?

Limoneira (NASDAQ:LMNR)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.05 and traded as high as $27.72. Limoneira shares last traded at $26.98, with a volume of 36,727 shares traded.

Analysts Set New Price Targets

Several analysts have commented on LMNR shares. StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Lake Street Capital restated a “hold” rating and issued a $25.00 target price on shares of Limoneira in a report on Tuesday, September 10th. Finally, B. Riley increased their price target on shares of Limoneira from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Limoneira Trading Down 0.8 %

The company has a market capitalization of $486.99 million, a PE ratio of 93.03 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. The business has a fifty day moving average price of $26.65 and a 200 day moving average price of $23.05.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Monday, September 9th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Limoneira had a net margin of 3.24% and a return on equity of 3.97%. The firm had revenue of $63.31 million for the quarter, compared to analyst estimates of $63.85 million. Analysts expect that Limoneira will post 0.4 EPS for the current fiscal year.

Limoneira Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Monday, October 7th were given a dividend of $0.075 per share. The ex-dividend date was Monday, October 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.11%. Limoneira’s dividend payout ratio (DPR) is 103.45%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in shares of Limoneira by 14.3% in the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after buying an additional 436 shares during the period. Covestor Ltd boosted its holdings in Limoneira by 48.9% in 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 during the period. SG Americas Securities LLC purchased a new position in Limoneira in the 3rd quarter worth approximately $153,000. Legacy Capital Group California Inc. acquired a new stake in Limoneira in the third quarter valued at approximately $206,000. Finally, Inspire Investing LLC purchased a new stake in shares of Limoneira during the third quarter valued at approximately $415,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

About Limoneira

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.