Limoneira (NASDAQ:LMNR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Limoneira (NASDAQ:LMNR) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Several other equities analysts have also commented on LMNR. Lake Street Capital cut their price target on Limoneira from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, June 10th. HC Wainwright cut shares of Limoneira to a “buy” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a research report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Limoneira Price Performance

Shares of NASDAQ:LMNR opened at $14.99 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $13.68 and a two-hundred day simple moving average of $13.36. Limoneira has a 12-month low of $11.66 and a 12-month high of $16.44. The stock has a market capitalization of $271.77 million, a price-to-earnings ratio of -6.57 and a beta of 0.32.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results 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). Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%.The business had revenue of $23.93 million during the quarter, compared to analysts’ expectations of $21.42 million. On average, research analysts anticipate that Limoneira will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Limoneira

A number of hedge funds have recently added to or reduced their stakes in LMNR. First Wilshire Securities Management Inc. raised its position in shares of Limoneira by 122.2% in the first quarter. First Wilshire Securities Management Inc. now owns 578,059 shares of the company’s stock worth $7,758,000 after acquiring an additional 317,872 shares during the period. BlackRock Inc. acquired a new stake in shares of Limoneira during the 2nd quarter valued at about $15,065,000. SFE Investment Counsel acquired a new position in Limoneira in the 2nd quarter worth about $788,000. Flax Pond Capital LLC purchased a new position in Limoneira during the fourth quarter worth approximately $2,145,000. Finally, Marquette Asset Management LLC purchased a new position in Limoneira during the second quarter worth approximately $608,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

Limoneira Company Profile

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.