Limoneira (NASDAQ:LMNR) PT Raised to $28.00 at B. Riley

Limoneira (NASDAQ:LMNR) had its price objective boosted by B. Riley from $24.00 to $28.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Lake Street Capital boosted their target price on shares of Limoneira from $23.00 to $25.00 and gave the company a buy rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $25.33.

Limoneira Stock Performance

LMNR stock opened at $25.10 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.93 and a quick ratio of 0.84. Limoneira has a 1 year low of $13.88 and a 1 year high of $25.89. The company has a market cap of $452.08 million, a P/E ratio of -193.08, a price-to-earnings-growth ratio of 7.60 and a beta of 0.48. The stock’s fifty day moving average price is $21.71 and its 200-day moving average price is $20.38.

Limoneira (NASDAQ:LMNR) last announced its earnings results on Thursday, June 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.20. Limoneira had a positive return on equity of 0.67% and a negative net margin of 0.92%. The business had revenue of $44.61 million for the quarter, compared to analysts’ expectations of $54.62 million. On average, equities analysts forecast that Limoneira will post 0.22 earnings per share for the current year.

Limoneira Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, July 8th were paid a dividend of $0.075 per share. The ex-dividend date was Monday, July 8th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.20%. Limoneira’s dividend payout ratio (DPR) is presently -230.77%.

Institutional Investors Weigh In On Limoneira

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMNR. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Limoneira in the fourth quarter worth $633,000. Riverwater Partners LLC increased its stake in Limoneira by 26.4% in the 1st quarter. Riverwater Partners LLC now owns 139,946 shares of the company’s stock worth $2,737,000 after buying an additional 29,187 shares in the last quarter. Gabelli Funds LLC increased its stake in Limoneira by 34.3% in the 4th quarter. Gabelli Funds LLC now owns 97,000 shares of the company’s stock worth $2,001,000 after buying an additional 24,800 shares in the last quarter. Bulldog Investors LLP bought a new stake in Limoneira during the fourth quarter valued at about $413,000. Finally, Global Alpha Capital Management Ltd. lifted its position in shares of Limoneira by 0.7% in the first quarter. Global Alpha Capital Management Ltd. now owns 3,006,940 shares of the company’s stock valued at $58,816,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.

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.