Limoneira (NASDAQ:LMNR) Cut to “Sell” at StockNews.com

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

LMNR has been the subject of several other research reports. Lake Street Capital reiterated a “hold” rating and issued a $25.00 price objective on shares of Limoneira in a report on Tuesday, September 10th. B. Riley boosted their price target on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.33.

Limoneira Stock Performance

Shares of NASDAQ LMNR opened at $24.40 on Wednesday. Limoneira has a 1-year low of $17.37 and a 1-year high of $29.22. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average is $26.81 and its 200 day moving average is $24.34. The stock has a market cap of $441.23 million, a price-to-earnings ratio of 84.14 and a beta of 0.49.

Limoneira Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Monday, December 30th. Limoneira’s dividend payout ratio (DPR) is presently 78.95%.

Institutional Investors Weigh In On Limoneira

Several hedge funds have recently added to or reduced their stakes in LMNR. BNP Paribas Financial Markets boosted its stake in Limoneira by 14.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after purchasing an additional 436 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of Limoneira by 3.0% during the third quarter. Global Alpha Capital Management Ltd. now owns 3,299,703 shares of the company’s stock valued at $87,442,000 after buying an additional 96,054 shares during the last quarter. PEAK6 Investments LLC bought a new stake in shares of Limoneira during the third quarter valued at approximately $255,000. Riverwater Partners LLC increased its position in shares of Limoneira by 47.3% during the third quarter. Riverwater Partners LLC now owns 200,423 shares of the company’s stock valued at $5,245,000 after acquiring an additional 64,392 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Limoneira by 27.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 36,999 shares of the company’s stock worth $980,000 after acquiring an additional 8,051 shares during the last quarter. 64.35% of the stock is owned by 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.