Limoneira Co (NASDAQ:LMNR) Given Consensus Recommendation of “Hold” by Brokerages

Limoneira Co (NASDAQ:LMNR) has been assigned an average recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $18.50.

LMNR has been the topic of a number of research reports. Zacks Research cut Limoneira from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 31st. Lake Street Capital assumed coverage on Limoneira in a research note on Wednesday, December 31st. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Limoneira in a report on Monday, December 29th.

Insider Activity at Limoneira

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

Hedge Funds Weigh In On Limoneira

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of Limoneira by 64.8% during the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock worth $27,000 after acquiring an additional 668 shares in the last quarter. CWM LLC lifted its holdings in Limoneira by 144.3% in the 3rd quarter. CWM LLC now owns 2,450 shares of the company’s stock worth $36,000 after buying an additional 1,447 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Limoneira in the third quarter worth $151,000. Byrne Asset Management LLC lifted its position in shares of Limoneira by 146.0% in the 4th quarter. Byrne Asset Management LLC now owns 12,671 shares of the company’s stock worth $160,000 after purchasing an additional 7,520 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Limoneira in the second quarter worth about $220,000. 64.35% of the stock is owned by institutional investors and hedge funds.

Limoneira Stock Up 0.3%

Shares of NASDAQ:LMNR opened at $14.36 on Thursday. The firm has a 50 day simple moving average of $13.93 and a 200 day simple moving average of $14.55. Limoneira has a 52 week low of $12.20 and a 52 week high of $23.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.27 and a current ratio of 1.35. The company has a market cap of $260.20 million, a PE ratio of -15.44 and a beta of 0.39.

Limoneira (NASDAQ:LMNR) last issued its earnings results on Tuesday, December 23rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.28). Limoneira had a negative return on equity of 8.79% and a negative net margin of 10.01%.The business had revenue of $42.82 million during the quarter, compared to analyst estimates of $35.35 million. During the same period last year, the business earned ($0.09) EPS.

Limoneira Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, December 30th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, December 30th. Limoneira’s payout ratio is presently -32.26%.

About Limoneira

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.