Analysts Set Limoneira Co (NASDAQ:LMNR) Price Target at $18.50

Shares of Limoneira Co (NASDAQ:LMNR) have been given a consensus recommendation of “Hold” by the five ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.50.

Several equities research analysts recently commented on LMNR shares. Zacks Research cut Limoneira from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a report on Monday, December 29th. Finally, Lake Street Capital assumed coverage on shares of Limoneira in a research note on Wednesday, December 31st. They issued a “buy” rating and a $19.00 price target for the company.

Insiders Place Their Bets

In other news, Director Scott S. Slater bought 5,000 shares of the stock in a transaction on Thursday, January 8th. The shares were bought at an average price of $12.85 per share, with a total value of $64,250.00. Following the completion of the acquisition, the director owned 64,447 shares in the company, valued at $828,143.95. The trade was a 8.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On Limoneira

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in shares of Limoneira by 64.8% in the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock worth $27,000 after buying an additional 668 shares during the last quarter. CWM LLC raised 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 acquiring an additional 1,447 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Limoneira during the 3rd quarter worth $151,000. Byrne Asset Management LLC boosted its stake in shares of Limoneira by 146.0% during the 4th quarter. Byrne Asset Management LLC now owns 12,671 shares of the company’s stock worth $160,000 after acquiring an additional 7,520 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Limoneira during the 2nd quarter valued at $220,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Price Performance

LMNR stock opened at $14.45 on Thursday. The business has a 50-day simple moving average of $13.95 and a two-hundred day simple moving average of $14.53. The company has a market capitalization of $261.83 million, a P/E ratio of -15.54 and a beta of 0.39. Limoneira has a 52-week low of $12.20 and a 52-week high of $23.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.27 and a current ratio of 1.35.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings data on Tuesday, December 23rd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.28). Limoneira had a negative return on equity of 8.79% and a negative net margin of 10.01%.The firm had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $35.35 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share.

Limoneira Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Tuesday, December 30th were paid a dividend of $0.075 per share. The ex-dividend date was Tuesday, December 30th. This represents a $0.30 dividend on an annualized basis and a yield of 2.1%. Limoneira’s payout ratio is currently -32.26%.

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.