Limoneira Co (NASDAQ:LMNR) Receives $18.50 Average Price Target from Brokerages

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

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

Insiders Place Their Bets

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 bought at an average cost of $12.85 per share, for a total transaction of $64,250.00. Following the completion of the purchase, the director owned 64,447 shares of the company’s stock, valued at $828,143.95. This represents a 8.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.85% of the stock is owned by corporate insiders.

Institutional Trading of Limoneira

Several hedge funds have recently bought and sold shares of the company. Peapod Lane Capital LLC bought a new position in Limoneira in the 2nd quarter worth about $1,927,000. Teton Advisors LLC acquired a new position in shares of Limoneira during the third quarter worth approximately $1,745,000. Qube Research & Technologies Ltd grew its holdings in Limoneira by 515.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company’s stock worth $1,160,000 after buying an additional 62,080 shares in the last quarter. JPMorgan Chase & Co. increased its position in Limoneira by 248.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company’s stock valued at $692,000 after acquiring an additional 31,552 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in Limoneira by 14.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 253,200 shares of the company’s stock valued at $3,760,000 after acquiring an additional 31,200 shares in the last quarter. 64.35% of the stock is currently owned by institutional investors.

Limoneira Stock Performance

Shares of LMNR stock opened at $14.25 on Thursday. The stock has a market capitalization of $258.21 million, a price-to-earnings ratio of -15.32 and a beta of 0.39. Limoneira has a one year low of $12.20 and a one year high of $23.50. The company’s 50-day simple moving average is $13.96 and its 200-day simple moving average is $14.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.27 and a current ratio of 1.35.

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

Limoneira Announces Dividend

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

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.