Limoneira (NASDAQ:LMNR) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.
A number of other research firms have also weighed in on LMNR. ValuEngine lowered shares of Limoneira from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Lake Street Capital set a $31.00 price target on shares of Limoneira and gave the company a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research raised shares of Limoneira from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Buckingham Research raised their price target on shares of Limoneira from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, September 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Limoneira currently has a consensus rating of “Buy” and a consensus target price of $29.50.
Shares of NASDAQ LMNR traded up $0.01 during mid-day trading on Thursday, reaching $25.32. 88,736 shares of the company’s stock traded hands, compared to its average volume of 108,776. The stock has a market capitalization of $442.62 million, a P/E ratio of 60.29, a P/E/G ratio of 1.80 and a beta of 0.85. Limoneira has a 1-year low of $19.62 and a 1-year high of $33.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.81.
Limoneira (NASDAQ:LMNR) last issued its quarterly earnings data on Monday, September 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The business had revenue of $39.95 million for the quarter, compared to analyst estimates of $37.68 million. Limoneira had a net margin of 15.91% and a return on equity of 6.46%. As a group, equities research analysts anticipate that Limoneira will post 0.66 earnings per share for the current fiscal year.
In related news, Director John W.H. Merriman sold 2,200 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $28.01, for a total transaction of $61,622.00. Following the transaction, the director now directly owns 1,218 shares of the company’s stock, valued at $34,116.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Limoneira by 71.9% in the third quarter. BlackRock Inc. now owns 1,208,848 shares of the company’s stock worth $31,564,000 after acquiring an additional 505,647 shares during the period. Atlas Capital Advisors LLC bought a new stake in Limoneira in the third quarter worth about $108,000. Grand Jean Capital Management Inc. bought a new stake in Limoneira in the third quarter worth about $3,159,000. Hillsdale Investment Management Inc. raised its position in Limoneira by 95.2% in the third quarter. Hillsdale Investment Management Inc. now owns 59,100 shares of the company’s stock worth $1,543,000 after acquiring an additional 28,827 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Limoneira by 6.4% in the third quarter. Bank of New York Mellon Corp now owns 81,050 shares of the company’s stock worth $2,116,000 after acquiring an additional 4,896 shares during the period. 41.72% of the stock is currently owned by institutional investors and hedge funds.
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.
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