Limoneira Company (NASDAQ:LMNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $22.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 12.99% from the company’s previous close.

According to Zacks, “Limoneira Company is an agribusiness and real estate development company. Its current operations consist of fruit production and marketing, real estate development and capital investment activities. Limoneira has three business segments: agribusiness, rental operations, and real estate development. The agribusiness segment includes its farming and lemon packing operations. The Company produces lemons, avocados, oranges, and other specialty crops. The rental operations segment includes housing, organic recycling, commercial and leased land operations. The real estate development segment includes its real estate projects and development. Limoneira Company is based in Santa Paula, California. “

Separately, Lake Street Capital lifted their price objective on shares of Limoneira Company from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 11th.

Limoneira Company (NASDAQ:LMNR) opened at 19.47 on Friday. The company has a market capitalization of $277.17 million, a price-to-earnings ratio of 30.00 and a beta of 0.93. Limoneira Company has a 12 month low of $13.90 and a 12 month high of $21.78. The company’s 50-day moving average price is $18.02 and its 200 day moving average price is $18.80.

Limoneira Company (NASDAQ:LMNR) last announced its earnings results on Monday, March 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $28.10 million for the quarter, compared to analyst estimates of $24.64 million. Limoneira Company had a net margin of 7.21% and a return on equity of 6.03%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.29) earnings per share. Analysts forecast that Limoneira Company will post $0.50 EPS for the current fiscal year.

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In related news, Director Ronald L. Michaelis sold 1,500 shares of Limoneira Company stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $21.17, for a total value of $31,755.00. Following the transaction, the director now directly owns 7,593 shares in the company, valued at approximately $160,743.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald L. Michaelis sold 3,000 shares of Limoneira Company stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $20.00, for a total transaction of $60,000.00. Following the completion of the transaction, the director now owns 9,686 shares in the company, valued at $193,720. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock worth $151,755. 5.60% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. raised its position in Limoneira Company by 1.0% in the third quarter. Deprince Race & Zollo Inc. now owns 104,127 shares of the company’s stock worth $1,968,000 after buying an additional 1,050 shares during the period. Global Alpha Capital Management Ltd. raised its stake in shares of Limoneira Company by 23.5% in the third quarter. Global Alpha Capital Management Ltd. now owns 399,319 shares of the company’s stock valued at $7,547,000 after buying an additional 76,049 shares during the last quarter. State Street Corp raised its stake in shares of Limoneira Company by 5.6% in the fourth quarter. State Street Corp now owns 165,700 shares of the company’s stock valued at $3,563,000 after buying an additional 8,811 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Limoneira Company by 59.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 113,628 shares of the company’s stock valued at $2,444,000 after buying an additional 42,500 shares during the last quarter. Finally, Teton Advisors Inc. raised its stake in shares of Limoneira Company by 8.5% in the fourth quarter. Teton Advisors Inc. now owns 112,120 shares of the company’s stock valued at $2,412,000 after buying an additional 8,830 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

About Limoneira Company

Limoneira Company is engaged in agribusiness and real estate development. The Company’s operations consist of fruit production, sales and marketing, rental operations, real estate development and capital investment activities. The Company’s segments include lemon operations, other agribusiness, rental operations and real estate development.

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