Limoneira (NASDAQ:LMNR) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Limoneira (NASDAQ:LMNR) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Lake Street Capital raised Limoneira from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, June 10th. Stephens began coverage on Limoneira in a report on Friday, September 12th. They issued an “equal weight” rating and a $18.00 price objective for the company. Finally, Roth Capital reiterated a “buy” rating on shares of Limoneira in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.50.

Limoneira Stock Up 2.5%

NASDAQ LMNR opened at $15.37 on Tuesday. The stock has a fifty day moving average of $15.48 and a 200-day moving average of $16.18. The stock has a market capitalization of $277.43 million, a P/E ratio of -27.94 and a beta of 0.44. Limoneira has a 52 week low of $14.40 and a 52 week high of $29.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.66 and a current ratio of 1.80.

Limoneira Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, July 7th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, July 7th. Limoneira’s payout ratio is presently -54.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMNR. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Limoneira during the first quarter worth about $4,487,000. Peapod Lane Capital LLC acquired a new position in shares of Limoneira during the second quarter worth about $1,927,000. Qube Research & Technologies Ltd boosted its position in shares of Limoneira by 515.4% during the second 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 during the period. Nuveen LLC acquired a new position in shares of Limoneira during the first quarter worth about $1,028,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Limoneira by 248.7% during the second quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company’s stock worth $692,000 after buying an additional 31,552 shares during the period. 64.35% of the stock is owned by institutional investors and hedge funds.

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.