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

Shares of Limoneira Co (NASDAQ:LMNR) have received an average rating of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of equities analysts have weighed in on LMNR shares. Zacks Research raised shares of Limoneira from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Lake Street Capital initiated coverage on shares of Limoneira in a research report on Wednesday, December 31st. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a report on Monday, December 29th.

Insider Transactions at Limoneira

In other news, Director Scott S. Slater acquired 5,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was purchased at an average cost of $12.85 per share, for a total transaction of $64,250.00. Following the completion of the transaction, the director directly owned 64,447 shares in the company, valued at $828,143.95. This trade represents a 8.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Teton Advisors LLC acquired a new stake in shares of Limoneira during the 3rd quarter worth approximately $1,745,000. Peapod Lane Capital LLC boosted its stake in Limoneira by 44.5% in the fourth quarter. Peapod Lane Capital LLC now owns 208,547 shares of the company’s stock valued at $2,633,000 after acquiring an additional 64,178 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Limoneira by 515.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company’s stock worth $1,160,000 after acquiring an additional 62,080 shares during the period. JPMorgan Chase & Co. grew its holdings in Limoneira by 248.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company’s stock worth $692,000 after acquiring an additional 31,552 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in shares of Limoneira by 14.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 253,200 shares of the company’s stock valued at $3,760,000 after acquiring an additional 31,200 shares during the last quarter. Institutional investors own 64.35% of the company’s stock.

Limoneira Trading Up 1.8%

Shares of LMNR opened at $14.45 on Monday. 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 company has a market cap of $261.98 million, a price-to-earnings ratio of -15.54 and a beta of 0.40. The stock has a fifty day moving average price of $13.87 and a two-hundred day moving average price of $14.38. Limoneira has a 52-week low of $12.20 and a 52-week high of $22.19.

Limoneira (NASDAQ:LMNR) last announced its earnings results on Tuesday, December 23rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate 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 business had revenue of $42.82 million for the quarter, compared to the consensus estimate of $35.35 million. During the same quarter in the previous year, the company posted ($0.09) EPS.

Limoneira Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, December 30th. Limoneira’s dividend payout ratio is -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.