Limoneira (LMNR) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Limoneira (NASDAQ:LMNR) from a hold rating to a buy rating in a report issued on Friday.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Limoneira from a sell rating to a hold rating in a report on Wednesday, August 29th. Buckingham Research upped their target price on shares of Limoneira from $30.00 to $32.00 and gave the company a buy rating in a report on Tuesday, September 11th. Lake Street Capital set a $31.00 target price on shares of Limoneira and gave the company a buy rating in a report on Tuesday, September 11th. Finally, ValuEngine cut shares of Limoneira from a buy rating to a hold rating in a report on Tuesday, October 2nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $29.50.

Shares of NASDAQ:LMNR opened at $24.71 on Friday. Limoneira has a one year low of $19.62 and a one 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. The stock has a market capitalization of $438.02 million, a PE ratio of 58.83, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85.

Limoneira (NASDAQ:LMNR) last announced 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 net margin of 15.91% and a return on equity of 6.46%. The business had revenue of $39.95 million during the quarter, compared to analysts’ expectations of $37.68 million. As a group, sell-side analysts predict that Limoneira will post 0.66 EPS for the current year.

In other news, Director John W.H. Merriman sold 2,200 shares of the business’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 in the company, valued at $34,116.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Several institutional investors have recently modified their holdings of LMNR. Royal Bank of Canada increased its stake in shares of Limoneira by 62.0% during the first quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock worth $316,000 after acquiring an additional 5,103 shares during the period. Northpointe Capital LLC acquired a new position in shares of Limoneira during the second quarter worth about $3,156,000. Parallel Advisors LLC increased its stake in shares of Limoneira by 21,245.0% during 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. Global Alpha Capital Management Ltd. increased its stake in shares of Limoneira by 31.8% during the second quarter. Global Alpha Capital Management Ltd. now owns 1,238,844 shares of the company’s stock worth $30,488,000 after acquiring an additional 299,000 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Limoneira by 18.0% during the second quarter. First Trust Advisors LP now owns 13,671 shares of the company’s stock worth $336,000 after acquiring an additional 2,082 shares during the period. Institutional investors and hedge funds own 49.38% of the company’s stock.

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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