Limoneira (NASDAQ:LMNR) Given Consensus Rating of “Buy” by Brokerages


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Limoneira (NASDAQ:LMNR) has been assigned an average rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $23.25.

LMNR has been the subject of several research analyst reports. Roth Capital upped their target price on Limoneira from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, March 11th. Northland Securities upgraded Limoneira from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a report on Friday, March 12th. Seaport Global Securities initiated coverage on Limoneira in a report on Thursday, February 25th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, March 17th. Finally, Stephens upgraded Limoneira from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $20.00 in a report on Thursday, March 11th.

Shares of Limoneira stock traded down $0.09 during trading on Tuesday, hitting $18.44. 1,107 shares of the stock traded hands, compared to its average volume of 65,266. The firm has a market cap of $326.11 million, a P/E ratio of -19.01, a price-to-earnings-growth ratio of 5.67 and a beta of 1.04. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.59. Limoneira has a 52-week low of $10.91 and a 52-week high of $19.37. The stock’s fifty day simple moving average is $17.46 and its 200 day simple moving average is $16.13.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings data on Tuesday, March 9th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.03. The company had revenue of $38.28 million for the quarter, compared to the consensus estimate of $35.37 million. Limoneira had a negative return on equity of 5.77% and a negative net margin of 9.99%. As a group, equities analysts expect that Limoneira will post 0.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Monday, April 5th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.63%. The ex-dividend date was Thursday, April 1st. Limoneira’s payout ratio is -43.48%.

In other news, Director Jose De Jesus Loza bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The shares were purchased at an average price of $18.38 per share, with a total value of $137,850.00. Following the purchase, the director now owns 263,568 shares in the company, valued at $4,844,379.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have purchased 30,850 shares of company stock worth $542,093 and have sold 6,119 shares worth $107,346. 4.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of LMNR. First Wilshire Securities Management Inc. raised its position in Limoneira by 152.2% in the 4th quarter. First Wilshire Securities Management Inc. now owns 352,463 shares of the company’s stock valued at $5,869,000 after purchasing an additional 212,733 shares in the last quarter. BlackRock Inc. raised its position in Limoneira by 4.9% in the 4th quarter. BlackRock Inc. now owns 1,125,892 shares of the company’s stock valued at $18,746,000 after purchasing an additional 52,361 shares in the last quarter. JPMorgan Chase & Co. raised its position in Limoneira by 537.6% in the 4th quarter. JPMorgan Chase & Co. now owns 38,685 shares of the company’s stock valued at $644,000 after purchasing an additional 32,618 shares in the last quarter. Bank of New York Mellon Corp raised its position in Limoneira by 35.4% in the 4th quarter. Bank of New York Mellon Corp now owns 111,339 shares of the company’s stock valued at $1,853,000 after purchasing an additional 29,119 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Limoneira by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 607,831 shares of the company’s stock valued at $10,120,000 after purchasing an additional 11,991 shares in the last quarter. 52.88% of the stock is currently 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 four segments: Fresh Lemons, Lemon Packing, Avocados, and Other Agribusiness. 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, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, and wine grapes.

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Analyst Recommendations for Limoneira (NASDAQ:LMNR)

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