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

StockNews.com upgraded shares of Limoneira (NASDAQ:LMNR) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Other equities analysts have also issued reports about the stock. Lake Street Capital reiterated a hold rating and set a $25.00 target price on shares of Limoneira in a report on Tuesday. B. Riley lifted their price objective on Limoneira from $24.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $25.33.

Limoneira Trading Up 2.2 %

Shares of NASDAQ LMNR opened at $25.96 on Wednesday. Limoneira has a 1 year low of $13.88 and a 1 year high of $25.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.93 and a quick ratio of 0.84. The firm has a 50-day moving average of $22.37 and a 200 day moving average of $20.70. The stock has a market cap of $468.58 million, a P/E ratio of -199.69, a price-to-earnings-growth ratio of 5.91 and a beta of 0.48.

Limoneira Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 8th were paid a $0.075 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.30 annualized dividend and a dividend yield of 1.16%. Limoneira’s dividend payout ratio is presently -230.77%.

Institutional Investors Weigh In On Limoneira

A number of institutional investors have recently made changes to their positions in the company. Gabelli Funds LLC lifted its position in Limoneira by 2.5% in the 2nd quarter. Gabelli Funds LLC now owns 123,300 shares of the company’s stock valued at $2,566,000 after acquiring an additional 3,000 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Limoneira by 32.9% during the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock valued at $462,000 after purchasing an additional 5,498 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Limoneira by 7.4% during the second quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock valued at $473,000 after buying an additional 1,565 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Limoneira by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $2,700,000 after buying an additional 1,934 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in Limoneira by 3.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 211,403 shares of the company’s stock worth $4,135,000 after buying an additional 7,103 shares during the last quarter. Hedge funds and other 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.