Limoneira (NASDAQ:LMNR) Upgraded to “Hold” by StockNews.com

Limoneira (NASDAQ:LMNR) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other research firms have also recently issued reports on LMNR. TheStreet cut shares of Limoneira from a “b-” rating to a “c+” rating in a research note on Tuesday, January 30th. Roth Mkm upped their target price on shares of Limoneira from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd.

Limoneira Stock Up 1.4 %

Shares of LMNR stock traded up $0.27 during mid-day trading on Friday, reaching $19.59. 53,310 shares of the company’s stock traded hands, compared to its average volume of 40,937. Limoneira has a 12 month low of $13.88 and a 12 month high of $21.62. The company has a market cap of $352.72 million, a P/E ratio of -33.78, a P/E/G ratio of 9.74 and a beta of 0.55. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $18.82 and its 200-day moving average price is $17.64.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. The company had revenue of $39.73 million for the quarter, compared to analysts’ expectations of $39.07 million. Limoneira had a negative net margin of 5.40% and a negative return on equity of 1.16%. During the same quarter in the previous year, the business posted ($0.53) EPS. On average, equities analysts expect that Limoneira will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Limoneira

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMNR. BlackRock Inc. increased its holdings in Limoneira by 286.5% in the 2nd quarter. BlackRock Inc. now owns 1,048,456 shares of the company’s stock worth $16,314,000 after acquiring an additional 777,178 shares in the last quarter. Millennium Management LLC purchased a new stake in Limoneira in the 2nd quarter worth approximately $3,862,000. State Street Corp increased its holdings in Limoneira by 288.0% in the 2nd quarter. State Street Corp now owns 242,425 shares of the company’s stock worth $3,772,000 after acquiring an additional 179,950 shares in the last quarter. Geode Capital Management LLC increased its holdings in Limoneira by 123.2% in the 2nd quarter. Geode Capital Management LLC now owns 321,863 shares of the company’s stock worth $5,008,000 after acquiring an additional 177,676 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Limoneira during the 4th quarter valued at approximately $1,726,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

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.