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

Limoneira Co (NASDAQ:LMNR) has earned an average rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.00.

LMNR has been the subject of several research reports. Lake Street Capital reduced their price objective on Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a report on Friday, March 27th. HC Wainwright lowered Limoneira to a “buy” rating in a report on Wednesday. Finally, Zacks Research raised Limoneira from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th.

Limoneira Stock Down 0.4%

Shares of NASDAQ LMNR opened at $12.96 on Wednesday. The stock has a market capitalization of $234.96 million, a P/E ratio of -5.68 and a beta of 0.30. The company has a 50-day moving average price of $12.85 and a 200-day moving average price of $13.52. Limoneira has a 1 year low of $11.66 and a 1 year high of $16.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.68 and a quick ratio of 1.08.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings data on Tuesday, June 9th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.08). The company had revenue of $23.93 million during the quarter, compared to analysts’ expectations of $21.42 million. Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%. On average, equities research analysts forecast that Limoneira will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Limoneira

A number of institutional investors have recently added to or reduced their stakes in LMNR. BNP Paribas Financial Markets increased its position in shares of Limoneira by 64.8% during the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock worth $27,000 after acquiring an additional 668 shares during the period. Bank of America Corp DE increased its position in shares of Limoneira by 5.5% during the first quarter. Bank of America Corp DE now owns 16,559 shares of the company’s stock worth $222,000 after acquiring an additional 859 shares during the period. Flax Pond Capital LLC increased its position in shares of Limoneira by 0.7% during the first quarter. Flax Pond Capital LLC now owns 171,132 shares of the company’s stock worth $2,297,000 after acquiring an additional 1,224 shares during the period. American Century Companies Inc. increased its holdings in Limoneira by 3.8% during 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. Finally, Russell Investments Group Ltd. increased its holdings in Limoneira by 5.7% during the third quarter. Russell Investments Group Ltd. now owns 25,614 shares of the company’s stock valued at $380,000 after buying an additional 1,380 shares during the period. 64.35% of the stock is currently 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.