StockNews.com Upgrades Limoneira (NASDAQ:LMNR) to Sell

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

Separately, Lake Street Capital lowered their price objective on shares of Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, March 13th.

Limoneira Stock Performance

Limoneira stock opened at $17.56 on Friday. The company has a market cap of $316.87 million, a PE ratio of 46.21 and a beta of 0.46. Limoneira has a 12 month low of $17.12 and a 12 month high of $29.22. The company has a fifty day moving average price of $21.46 and a two-hundred day moving average price of $24.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.69.

Limoneira announced that its Board of Directors has authorized a stock buyback program on Monday, March 17th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Limoneira

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Limoneira by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 521,638 shares of the company’s stock worth $12,759,000 after acquiring an additional 11,304 shares during the period. State Street Corp increased its stake in shares of Limoneira by 3.7% in the third quarter. State Street Corp now owns 311,388 shares of the company’s stock valued at $8,252,000 after purchasing an additional 11,003 shares during the period. Riverwater Partners LLC raised its holdings in shares of Limoneira by 27.8% during the fourth quarter. Riverwater Partners LLC now owns 256,159 shares of the company’s stock valued at $6,266,000 after buying an additional 55,736 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Limoneira by 6.5% during the fourth quarter. Northern Trust Corp now owns 155,495 shares of the company’s stock valued at $3,803,000 after buying an additional 9,486 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Limoneira by 3.4% during the fourth quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company’s stock worth $2,948,000 after buying an additional 3,932 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.

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.