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

Shares of Limoneira Co (NASDAQ:LMNR) have earned an average recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $18.50.

LMNR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a report on Monday, December 29th. Lake Street Capital assumed coverage on shares of Limoneira in a report on Wednesday, December 31st. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Zacks Research upgraded shares of Limoneira from a “strong sell” rating to a “hold” rating in a research report on Friday, February 27th.

Limoneira Stock Performance

Shares of Limoneira stock opened at $13.62 on Friday. The business has a fifty day simple moving average of $14.02 and a two-hundred day simple moving average of $14.10. Limoneira has a 1 year low of $12.20 and a 1 year high of $18.40. The company has a market capitalization of $246.66 million, a price-to-earnings ratio of -10.64 and a beta of 0.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.16 and a quick ratio of 1.08.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.09). The company had revenue of $18.21 million during the quarter, compared to analyst estimates of $16.22 million. Limoneira had a negative net margin of 15.55% and a negative return on equity of 12.19%.

Insider Buying and Selling at Limoneira

In other Limoneira news, Director Scott S. Slater bought 5,000 shares of Limoneira stock in a transaction dated Thursday, January 8th. The stock was bought at an average price of $12.85 per share, with a total value of $64,250.00. Following the completion of the transaction, the director owned 64,447 shares in the company, valued at $828,143.95. The trade was a 8.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.17% of the company’s stock.

Hedge Funds Weigh In On Limoneira

A number of hedge funds have recently bought and sold shares of LMNR. BNP Paribas Financial Markets raised its position 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 valued at $27,000 after buying an additional 668 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Limoneira by 3.8% in the second quarter. American Century Companies Inc. now owns 36,690 shares of the company’s stock valued at $574,000 after buying an additional 1,359 shares during the period. Russell Investments Group Ltd. grew its position in Limoneira by 5.7% during the third quarter. Russell Investments Group Ltd. now owns 25,614 shares of the company’s stock worth $380,000 after buying an additional 1,380 shares in the last quarter. CWM LLC grew its position in Limoneira by 144.3% during 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 in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Limoneira by 3.3% during the 4th quarter. Advisors Asset Management Inc. now owns 56,794 shares of the company’s stock worth $717,000 after acquiring an additional 1,814 shares during the period. 64.35% of the stock is owned by institutional investors.

About Limoneira

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.