Brokerages Set Limoneira Co (NASDAQ:LMNR) Price Target at $18.50

Shares of Limoneira Co (NASDAQ:LMNR) have been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.50.

A number of research firms recently commented on LMNR. Lake Street Capital began coverage on shares of Limoneira in a research note on Wednesday, December 31st. They set a “buy” rating and a $19.00 price objective on the stock. Zacks Research lowered Limoneira from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a research note on Monday, December 29th.

Limoneira Stock Up 2.5%

Limoneira stock opened at $14.22 on Friday. The stock has a market cap of $257.67 million, a price-to-earnings ratio of -15.29 and a beta of 0.39. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $13.66 and its two-hundred day moving average price is $14.68. Limoneira has a 52 week low of $12.20 and a 52 week high of $23.64.

Limoneira Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Tuesday, December 30th will be given a $0.075 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $0.30 annualized dividend and a yield of 2.1%. Limoneira’s payout ratio is -32.26%.

Insiders Place Their Bets

In other Limoneira news, Director Scott S. Slater acquired 5,000 shares of Limoneira stock in a transaction dated Thursday, January 8th. The stock was bought at an average price of $12.85 per share, for a total transaction of $64,250.00. Following the transaction, the director owned 64,447 shares in the company, valued at approximately $828,143.95. This trade represents a 8.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC increased its holdings in shares of Limoneira by 146.0% in the fourth quarter. Byrne Asset Management LLC now owns 12,671 shares of the company’s stock valued at $160,000 after buying an additional 7,520 shares in the last quarter. Penn Capital Management Company LLC grew its holdings in shares of Limoneira by 175.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 37,105 shares of the company’s stock worth $551,000 after acquiring an additional 23,645 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Limoneira by 83.5% during the third quarter. Two Sigma Investments LP now owns 36,884 shares of the company’s stock worth $548,000 after purchasing an additional 16,788 shares during the period. Bridgeway Capital Management LLC purchased a new stake in shares of Limoneira during the third quarter valued at $235,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Limoneira by 94.3% during the third quarter. BNP Paribas Financial Markets now owns 3,301 shares of the company’s stock valued at $49,000 after purchasing an additional 1,602 shares during the last quarter. Institutional investors and hedge funds own 64.35% of the company’s stock.

Limoneira Company Profile

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.