Limoneira (LMNR) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Limoneira (NASDAQ:LMNR) from a buy rating to a hold rating in a research report report published on Saturday morning.

LMNR has been the topic of several other reports. Zacks Investment Research raised shares of Limoneira from a sell rating to a hold rating in a research report on Wednesday, August 29th. Buckingham Research lifted their target price on shares of Limoneira from $30.00 to $32.00 and gave the stock a buy rating in a research report on Tuesday, September 11th. Lake Street Capital set a $31.00 target price on shares of Limoneira and gave the stock a buy rating in a research report on Tuesday, September 11th. Finally, ValuEngine downgraded shares of Limoneira from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $29.50.

NASDAQ LMNR opened at $24.51 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 0.99. Limoneira has a 12 month low of $19.62 and a 12 month high of $33.42. The company has a market capitalization of $430.95 million, a P/E ratio of 58.36, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85.

Limoneira (NASDAQ:LMNR) last released its earnings results on Monday, September 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Limoneira had a return on equity of 6.46% and a net margin of 15.91%. The business had revenue of $39.95 million during the quarter, compared to the consensus estimate of $37.68 million. On average, research analysts expect that Limoneira will post 0.66 EPS for the current fiscal year.

In other news, Director John W.H. Merriman sold 2,200 shares of Limoneira stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $28.01, for a total value 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 SEC, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Limoneira by 20.8% during the first quarter. Dimensional Fund Advisors LP now owns 265,433 shares of the company’s stock valued at $6,299,000 after purchasing an additional 45,723 shares during the period. Royal Bank of Canada grew its holdings in Limoneira by 62.0% during the first quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock valued at $316,000 after purchasing an additional 5,103 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Limoneira in the second quarter worth about $244,000. Northpointe Capital LLC bought a new position in shares of Limoneira in the second quarter worth about $3,156,000. Finally, Parallel Advisors LLC boosted its stake in shares of Limoneira by 21,245.0% in the second quarter. Parallel Advisors LLC now owns 64,035 shares of the company’s stock worth $1,575,000 after acquiring an additional 63,735 shares during the period. 49.38% of the stock is currently 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 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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Analyst Recommendations for Limoneira (NASDAQ:LMNR)

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