Limoneira Co (NASDAQ:LMNR) Given Average Recommendation of “Hold” by Brokerages

Limoneira Co (NASDAQ:LMNR) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

LMNR has been the topic of several research reports. Roth Capital reaffirmed a “buy” rating on shares of Limoneira in a report on Monday, September 15th. Lake Street Capital began coverage on Limoneira in a research note on Wednesday, December 31st. They issued a “buy” rating and a $19.00 price objective on the stock. Zacks Research cut Limoneira from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a report on Monday, December 29th.

Limoneira Stock Performance

LMNR opened at $13.50 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.27 and a current ratio of 1.35. The stock has a market capitalization of $244.62 million, a price-to-earnings ratio of -14.52 and a beta of 0.39. The company has a fifty day moving average of $13.66 and a 200 day moving average of $14.72. Limoneira has a fifty-two week low of $12.20 and a fifty-two week high of $24.12.

Limoneira Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Tuesday, December 30th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 30th. Limoneira’s dividend payout ratio (DPR) is presently -32.26%.

Insider Buying and Selling at Limoneira

In other Limoneira news, Director Scott S. Slater bought 5,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were purchased at an average cost of $12.85 per share, for a total transaction of $64,250.00. Following the transaction, the director owned 64,447 shares of the company’s stock, valued at $828,143.95. This represents a 8.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Limoneira

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Limoneira by 64.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock worth $27,000 after purchasing an additional 668 shares during the period. CWM LLC lifted its position in Limoneira by 144.3% in the third quarter. CWM LLC now owns 2,450 shares of the company’s stock worth $36,000 after buying an additional 1,447 shares during the last quarter. Byrne Asset Management LLC boosted its stake in Limoneira by 33.1% during the second quarter. Byrne Asset Management LLC now owns 5,151 shares of the company’s stock worth $81,000 after buying an additional 1,282 shares during the period. Envestnet Asset Management Inc. purchased a new position in Limoneira during the third quarter worth $151,000. Finally, Walleye Capital LLC bought a new position in Limoneira during the second quarter valued at $220,000. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

Limoneira Company Profile

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.