Stephens Begins Coverage on Limoneira (LMNR)
Stephens started coverage on shares of Limoneira (NASDAQ:LMNR) in a research report released on Tuesday morning, The Fly reports. The brokerage issued an overweight rating on the stock.
A number of other equities research analysts also recently commented on LMNR. Buckingham Research increased their price objective on shares of Limoneira from $30.00 to $32.00 and gave the company a buy rating in a research report on Tuesday, September 11th. Lake Street Capital set a $31.00 target price on shares of Limoneira and gave the company a buy rating in a report on Tuesday, September 11th. ValuEngine cut shares of Limoneira from a buy rating to a hold rating in a report on Tuesday, October 2nd. BidaskClub cut shares of Limoneira from a strong-buy rating to a buy rating in a report on Thursday, November 8th. Finally, Roth Capital set a $28.00 target price on shares of Limoneira and gave the company a buy rating in a report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $29.50.
Shares of NASDAQ:LMNR traded down $0.05 during trading hours on Tuesday, reaching $22.00. The stock had a trading volume of 26,097 shares, compared to its average volume of 91,826. Limoneira has a 1 year low of $18.07 and a 1 year high of $33.42. The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The company has a market cap of $388.02 million, a PE ratio of 52.38, a P/E/G ratio of 1.85 and a beta of 1.03.
In related news, major shareholder Calavo Growers Inc sold 8,275 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $23.84, for a total transaction of $197,276.00. Following the completion of the sale, the insider now owns 1,720,295 shares in the company, valued at approximately $41,011,832.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.50% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of LMNR. Atlas Capital Advisors LLC acquired a new stake in shares of Limoneira in the 3rd quarter worth $108,000. Bank of Montreal Can lifted its stake in shares of Limoneira by 6,740.2% in the 3rd quarter. Bank of Montreal Can now owns 5,951 shares of the company’s stock worth $155,000 after acquiring an additional 5,864 shares during the period. MetLife Investment Advisors LLC lifted its stake in shares of Limoneira by 56.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 9,690 shares of the company’s stock worth $253,000 after acquiring an additional 3,481 shares during the period. First Trust Advisors LP lifted its stake in shares of Limoneira by 18.0% in the 2nd quarter. First Trust Advisors LP now owns 13,671 shares of the company’s stock worth $336,000 after acquiring an additional 2,082 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Limoneira in the 3rd quarter worth $421,000. Hedge funds and other institutional investors own 50.29% of the company’s stock.
Limoneira Company Profile
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.
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