Limoneira (NASDAQ:LMNR) Hits New 12-Month High – Should You Buy?

Limoneira (NASDAQ:LMNR) reached a new 52-week high on Tuesday . The stock traded as high as $28.06 and last traded at $28.05, with a volume of 9953 shares trading hands. The stock had previously closed at $27.50.

Analysts Set New Price Targets

LMNR has been the subject of a number of research reports. B. Riley increased their price objective on Limoneira from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com upgraded shares of Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Lake Street Capital reiterated a “hold” rating and set a $25.00 target price on shares of Limoneira in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.33.

Limoneira Trading Up 1.6 %

The stock’s 50 day moving average is $24.87 and its 200-day moving average is $22.00. The company has a market cap of $501.61 million, a P/E ratio of -214.23, a PEG ratio of 6.57 and a beta of 0.48. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Limoneira (NASDAQ:LMNR) last issued its earnings results on Monday, September 9th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Limoneira had a net margin of 3.24% and a return on equity of 3.97%. The business had revenue of $63.31 million during the quarter, compared to analysts’ expectations of $63.85 million. Research analysts anticipate that Limoneira will post 0.28 earnings per share for the current fiscal year.

Limoneira Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, October 7th will be paid a dividend of $0.075 per share. The ex-dividend date is Monday, October 7th. This represents a $0.30 annualized dividend and a yield of 1.08%. Limoneira’s dividend payout ratio is -230.77%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Global Alpha Capital Management Ltd. raised its position in Limoneira by 0.7% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 3,006,940 shares of the company’s stock worth $58,816,000 after buying an additional 20,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Limoneira by 1.6% during the first quarter. Vanguard Group Inc. now owns 927,965 shares of the company’s stock valued at $18,151,000 after purchasing an additional 14,572 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Limoneira by 3.5% during the first quarter. Gamco Investors INC. ET AL now owns 211,403 shares of the company’s stock valued at $4,135,000 after purchasing an additional 7,103 shares during the period. Bank of New York Mellon Corp boosted its holdings in Limoneira by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $2,700,000 after purchasing an additional 1,934 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in Limoneira by 2.5% in the 2nd quarter. Gabelli Funds LLC now owns 123,300 shares of the company’s stock worth $2,566,000 after purchasing an additional 3,000 shares during the period. 64.35% of the stock is owned by institutional investors.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.