Limoneira Co (NASDAQ:LMNR) Receives $18.00 Consensus Price Target from Brokerages

Limoneira Co (NASDAQ:LMNR) has received an average rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.00.

Several analysts have issued reports on LMNR shares. Lake Street Capital dropped their price target on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a research report on Wednesday, June 24th. Finally, HC Wainwright downgraded shares of Limoneira to a “buy” rating in a report on Wednesday, June 10th.

Limoneira Price Performance

Shares of LMNR stock opened at $13.78 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $249.83 million, a price-to-earnings ratio of -6.04 and a beta of 0.30. The firm has a fifty day moving average of $13.50 and a 200-day moving average of $13.34. Limoneira has a 12-month low of $11.66 and a 12-month high of $16.44.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Tuesday, June 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.08). The firm had revenue of $23.93 million for the quarter, compared to the consensus estimate of $21.42 million. Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%. On average, equities research analysts forecast that Limoneira will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Limoneira

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in Limoneira by 64.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock valued at $27,000 after purchasing an additional 668 shares during the period. Trust Co. of Vermont bought a new position in Limoneira during the second quarter worth about $33,000. California State Teachers Retirement System raised its stake in Limoneira by 236.3% in the 2nd quarter. California State Teachers Retirement System now owns 3,033 shares of the company’s stock worth $40,000 after purchasing an additional 2,131 shares in the last quarter. Leonteq Securities AG grew its position in shares of Limoneira by 88.8% during the 1st quarter. Leonteq Securities AG now owns 3,386 shares of the company’s stock worth $45,000 after purchasing an additional 1,593 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Limoneira by 45.0% during the fourth quarter. MetLife Investment Management LLC now owns 9,765 shares of the company’s stock worth $123,000 after purchasing an additional 3,029 shares during the period. 64.35% of the stock is currently owned by institutional investors and hedge funds.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.