ValuEngine Downgrades Limoneira (NASDAQ:LMNR) to Buy

Limoneira (NASDAQ:LMNR) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday, ValuEngine reports.

LMNR has been the subject of several other reports. Zacks Investment Research raised Limoneira from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Thursday, December 5th. BidaskClub raised Limoneira from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $24.60.

Shares of Limoneira stock opened at $20.24 on Wednesday. The stock has a 50-day moving average price of $19.36 and a 200 day moving average price of $19.13. The company has a market cap of $359.90 million, a P/E ratio of 40.48, a P/E/G ratio of 2.15 and a beta of 1.07. The company has a current ratio of 1.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48. Limoneira has a 1 year low of $17.05 and a 1 year high of $25.65.

In other Limoneira news, CEO Harold S. Edwards sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $20.24, for a total value of $40,480.00. Over the last ninety days, insiders sold 3,600 shares of company stock worth $72,790. Insiders own 4.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY increased its position in Limoneira by 17.3% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 5,188 shares of the company’s stock worth $95,000 after purchasing an additional 764 shares during the last quarter. Millennium Management LLC acquired a new position in Limoneira in the 3rd quarter worth about $1,104,000. Ashford Capital Management Inc. increased its position in Limoneira by 2.1% in the 3rd quarter. Ashford Capital Management Inc. now owns 853,792 shares of the company’s stock worth $15,676,000 after purchasing an additional 17,862 shares during the last quarter. State Street Corp increased its position in Limoneira by 0.7% in the 3rd quarter. State Street Corp now owns 280,139 shares of the company’s stock worth $5,143,000 after purchasing an additional 1,955 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Limoneira by 29.8% in the 3rd quarter. First Trust Advisors LP now owns 34,674 shares of the company’s stock worth $637,000 after purchasing an additional 7,963 shares during the last quarter. 56.46% of the stock is currently owned by institutional investors.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates in six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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