Limoneira (NASDAQ:LMNR) Stock Rating Upgraded by StockNews.com

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

Other equities analysts also recently issued research reports about the stock. Lake Street Capital restated a hold rating and issued a $25.00 price target on shares of Limoneira in a research note on Tuesday, September 10th. B. Riley boosted their price target on shares of Limoneira from $24.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $25.33.

Limoneira Stock Performance

NASDAQ:LMNR opened at $25.96 on Wednesday. The company has a fifty day simple moving average of $22.37 and a two-hundred day simple moving average of $20.71. The company has a market cap of $468.58 million, a price-to-earnings ratio of -199.69, a price-to-earnings-growth ratio of 5.91 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.21. Limoneira has a 52 week low of $13.88 and a 52 week high of $25.98.

Limoneira Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 8th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.30 annualized dividend and a dividend yield of 1.16%. Limoneira’s dividend payout ratio (DPR) is currently -230.77%.

Institutional Investors Weigh In On Limoneira

Institutional investors have recently modified their holdings of the company. Covestor Ltd lifted its position in shares of Limoneira by 48.9% during the 1st quarter. Covestor Ltd now owns 5,764 shares of the company’s stock worth $113,000 after purchasing an additional 1,893 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Limoneira by 60.8% in the first quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock valued at $165,000 after acquiring an additional 3,199 shares during the last quarter. Bulldog Investors LLP purchased a new stake in Limoneira in the fourth quarter valued at $413,000. American Century Companies Inc. lifted its position in Limoneira by 32.9% in the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock valued at $462,000 after acquiring an additional 5,498 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Limoneira by 7.4% in the second quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock valued at $473,000 after acquiring an additional 1,565 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

Limoneira Company Profile

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.