B. Riley Raises Limoneira (NASDAQ:LMNR) Price Target to $28.00

Limoneira (NASDAQ:LMNR) had its price target hoisted by B. Riley from $24.00 to $28.00 in a research report released on Wednesday, Benzinga reports. B. Riley currently has a buy rating on the stock.

Separately, Lake Street Capital upped their price target on Limoneira from $23.00 to $25.00 and gave the stock a buy rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $25.33.

Limoneira Stock Up 0.8 %

Shares of LMNR stock opened at $24.93 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.31. Limoneira has a 12 month low of $13.88 and a 12 month high of $25.89. The stock has a market cap of $449.01 million, a P/E ratio of -191.77, a P/E/G ratio of 7.60 and a beta of 0.48. The company has a 50 day simple moving average of $21.88 and a two-hundred day simple moving average of $20.47.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.20 by $0.20. Limoneira had a positive return on equity of 0.67% and a negative net margin of 0.92%. The firm had revenue of $44.61 million during the quarter, compared to analyst estimates of $54.62 million. On average, research analysts expect that Limoneira will post 0.22 earnings per share for the current year.

Limoneira Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 8th were given a dividend of $0.075 per share. The ex-dividend date was Monday, July 8th. This represents a $0.30 annualized dividend and a dividend yield of 1.20%. Limoneira’s payout ratio is -230.77%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LMNR. Covestor Ltd raised its holdings in Limoneira by 48.9% during the first quarter. Covestor Ltd now owns 5,764 shares of the company’s stock valued at $113,000 after acquiring an additional 1,893 shares during the period. BNP Paribas Financial Markets raised its stake in Limoneira by 60.8% during the 1st quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock valued at $165,000 after purchasing an additional 3,199 shares during the period. Bulldog Investors LLP bought a new stake in Limoneira during the 4th quarter valued at approximately $413,000. American Century Companies Inc. boosted its stake in Limoneira by 32.9% in the 2nd quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock worth $462,000 after purchasing an additional 5,498 shares during the period. Finally, Rhumbline Advisers grew its holdings in Limoneira by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock valued at $473,000 after buying an additional 1,565 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

About Limoneira

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.