Limoneira (NASDAQ:LMNR) Now Covered by Freedom Broker

Freedom Broker began coverage on shares of Limoneira (NASDAQ:LMNR) in a report issued on Wednesday morning,Zacks reports. The firm issued a strong-buy rating on the stock.

LMNR has been the subject of several other reports. Weiss Ratings upgraded Limoneira from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 9th. Lake Street Capital reduced their target price on Limoneira from $18.00 to $16.50 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Wall Street Zen raised Limoneira from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Finally, Zacks Research cut Limoneira from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.50.

Limoneira Trading Up 4.6%

Shares of LMNR stock opened at $10.52 on Wednesday. The company’s 50-day moving average price is $12.33 and its 200-day moving average price is $13.16. The company has a current ratio of 1.51, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The stock has a market cap of $190.75 million, a price-to-earnings ratio of -4.40 and a beta of 0.36. Limoneira has a twelve month low of $10.05 and a twelve month high of $15.43.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $49.62 million. Limoneira had a negative return on equity of 13.91% and a negative net margin of 33.03%. As a group, equities analysts predict that Limoneira will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Limoneira

A number of hedge funds have recently made changes to their positions in LMNR. BlackRock Inc. purchased a new position in shares of Limoneira during the second quarter worth $15,065,000. First Wilshire Securities Management Inc. raised its holdings in shares of Limoneira by 122.2% in the 1st quarter. First Wilshire Securities Management Inc. now owns 578,059 shares of the company’s stock valued at $7,758,000 after buying an additional 317,872 shares during the period. SFE Investment Counsel purchased a new stake in shares of Limoneira in the 2nd quarter valued at $788,000. Bank of New York Mellon Corp purchased a new stake in shares of Limoneira in the 2nd quarter valued at $659,000. Finally, Marquette Asset Management LLC acquired a new position in Limoneira during the 2nd quarter worth about $608,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

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.