Limoneira’s (LMNR) Hold Rating Reaffirmed at Lake Street Capital

Lake Street Capital restated their hold rating on shares of Limoneira (NASDAQ:LMNR) in a report released on Tuesday, MarketBeat Ratings reports. Lake Street Capital currently has a $25.00 price target on the stock.

Separately, B. Riley lifted their target price on Limoneira from $24.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Limoneira has a consensus rating of Moderate Buy and an average target price of $25.33.

Limoneira Trading Up 2.2 %

Shares of LMNR stock opened at $25.96 on Tuesday. The company has a market cap of $468.58 million, a P/E ratio of -199.69, a PEG ratio of 5.91 and a beta of 0.48. The stock has a 50 day simple moving average of $22.37 and a two-hundred day simple moving average of $20.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. Limoneira has a fifty-two week low of $13.88 and a fifty-two week high of $25.98.

Limoneira Announces Dividend

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

Institutional Investors Weigh In On Limoneira

A number of hedge funds have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. grew its stake in 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 during the period. Vanguard Group Inc. grew its stake in Limoneira by 1.6% in the first quarter. Vanguard Group Inc. now owns 927,965 shares of the company’s stock valued at $18,151,000 after acquiring an additional 14,572 shares during the period. Gamco Investors INC. ET AL grew its stake in Limoneira by 3.5% in the first quarter. Gamco Investors INC. ET AL now owns 211,403 shares of the company’s stock valued at $4,135,000 after acquiring an additional 7,103 shares during the period. Riverwater Partners LLC grew its stake in Limoneira by 26.4% in the first quarter. Riverwater Partners LLC now owns 139,946 shares of the company’s stock valued at $2,737,000 after acquiring an additional 29,187 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Limoneira by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock valued at $2,700,000 after acquiring an additional 1,934 shares during the period. Institutional investors and hedge funds 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.