Limoneira (NASDAQ:LMNR) Shares Cross Above 200-Day Moving Average – Here’s Why

Limoneira Co (NASDAQ:LMNR)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.42 and traded as high as $13.66. Limoneira shares last traded at $13.45, with a volume of 74,678 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LMNR. HC Wainwright cut shares of Limoneira to a “buy” rating in a research report on Wednesday, June 10th. Lake Street Capital cut their price objective on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.00.

Limoneira Stock Performance

The stock has a market capitalization of $235.15 million, a PE ratio of -5.69 and a beta of 0.30. The business has a 50 day moving average price of $13.07 and a 200 day moving average price of $13.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.68 and a quick ratio of 1.53.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results on Tuesday, June 9th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.08). The company had revenue of $23.93 million for the quarter, compared to the consensus estimate of $21.42 million. Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%. As a group, equities research analysts expect that Limoneira Co will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Limoneira by 64.8% in the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock worth $27,000 after purchasing an additional 668 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Limoneira by 5.5% during the first quarter. Bank of America Corp DE now owns 16,559 shares of the company’s stock valued at $222,000 after buying an additional 859 shares during the last quarter. Flax Pond Capital LLC boosted its position in shares of Limoneira by 0.7% during the first quarter. Flax Pond Capital LLC now owns 171,132 shares of the company’s stock valued at $2,297,000 after buying an additional 1,224 shares during the last quarter. American Century Companies Inc. increased its holdings in Limoneira by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 36,690 shares of the company’s stock worth $574,000 after buying an additional 1,359 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Limoneira by 5.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,614 shares of the company’s stock worth $380,000 after buying an additional 1,380 shares in the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

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.