Lake Street Capital Reaffirms Buy Rating for Limoneira (NASDAQ:LMNR)

Limoneira (NASDAQ:LMNR)‘s stock had its “buy” rating restated by analysts at Lake Street Capital in a research note issued on Wednesday, Marketbeat reports. They presently have a $19.00 price target on the stock, down from their previous price target of $23.00. Lake Street Capital’s price target would suggest a potential upside of 52.37% from the stock’s current price.

LMNR has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a research note on Monday. Zacks Research upgraded shares of Limoneira from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Stephens began coverage on shares of Limoneira in a report on Friday, September 12th. They issued an “equal weight” rating and a $18.00 price target on the stock. Finally, Roth Capital reissued a “buy” rating on shares of Limoneira in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Limoneira currently has a consensus rating of “Hold” and an average target price of $18.50.

Limoneira Stock Up 0.4%

LMNR stock opened at $12.47 on Wednesday. The stock has a 50-day simple moving average of $13.91 and a two-hundred day simple moving average of $14.84. Limoneira has a twelve month low of $12.20 and a twelve month high of $25.20. The firm has a market capitalization of $225.96 million, a PE ratio of -13.41 and a beta of 0.41. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 0.40.

Hedge Funds Weigh In On Limoneira

A number of hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Limoneira by 9.9% during the 1st quarter. American Century Companies Inc. now owns 35,331 shares of the company’s stock valued at $626,000 after purchasing an additional 3,171 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Limoneira by 21.7% in the first quarter. Advisors Asset Management Inc. now owns 57,118 shares of the company’s stock worth $1,012,000 after buying an additional 10,173 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Limoneira during the first quarter valued at approximately $256,000. Jane Street Group LLC purchased a new position in shares of Limoneira during the first quarter worth approximately $335,000. Finally, Inspire Investing LLC lifted its holdings in shares of Limoneira by 19.2% in the 1st quarter. Inspire Investing LLC now owns 19,411 shares of the company’s stock worth $344,000 after acquiring an additional 3,132 shares during the last quarter. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

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.