Limoneira (NASDAQ:LMNR) Stock Rating Upgraded by Lake Street Capital

Lake Street Capital upgraded shares of Limoneira (NASDAQ:LMNR) from a hold rating to a buy rating in a report published on Tuesday morning, Marketbeat.com reports. They currently have $23.00 price target on the stock.

Separately, Wall Street Zen upgraded Limoneira to a “sell” rating in a research note on Wednesday, April 9th.

Limoneira Stock Performance

Shares of NASDAQ LMNR opened at $16.56 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $15.84 and its two-hundred day moving average is $20.55. The company has a market cap of $298.83 million, a P/E ratio of 43.58 and a beta of 0.45. Limoneira has a 12 month low of $14.80 and a 12 month high of $29.22.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results on Monday, June 9th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.16). The business had revenue of $35.12 million during the quarter, compared to the consensus estimate of $38.70 million. Limoneira had a return on equity of 4.34% and a net margin of 4.03%. During the same period in the prior year, the firm earned $0.44 earnings per share.

Limoneira announced that its board has authorized a stock repurchase plan on Monday, March 17th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Limoneira Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a $0.075 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. Limoneira’s dividend payout ratio is currently 73.17%.

Institutional Investors Weigh In On Limoneira

Several large investors have recently modified their holdings of LMNR. Bank of New York Mellon Corp boosted its stake in Limoneira by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company’s stock valued at $2,948,000 after buying an additional 3,932 shares in the last quarter. Riverwater Partners LLC boosted its stake in Limoneira by 27.8% in the 4th 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 in the last quarter. Northern Trust Corp boosted its stake in Limoneira by 6.5% in the 4th 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in Limoneira by 324.3% in the 4th quarter. JPMorgan Chase & Co. now owns 38,556 shares of the company’s stock valued at $943,000 after buying an additional 29,470 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Limoneira by 29.3% in the 4th quarter. Deutsche Bank AG now owns 13,380 shares of the company’s stock valued at $327,000 after buying an additional 3,033 shares in the last quarter. 64.35% of the stock is currently owned by 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.