Limoneira Co (NASDAQ:LMNR) Receives Average Rating of “Hold” from Brokerages

Shares of Limoneira Co (NASDAQ:LMNR) have received an average rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $20.50.

Several brokerages have recently commented on LMNR. Zacks Research raised shares of Limoneira from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Roth Capital reissued a “buy” rating on shares of Limoneira in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a research note on Monday. Finally, Stephens initiated coverage on shares of Limoneira in a report on Friday, September 12th. They set an “equal weight” rating and a $18.00 price objective on the stock.

Limoneira Stock Up 0.2%

Shares of NASDAQ:LMNR opened at $15.10 on Wednesday. Limoneira has a 1 year low of $12.69 and a 1 year high of $27.45. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.66. The business’s 50-day moving average is $14.13 and its 200-day moving average is $14.99. The company has a market capitalization of $272.56 million, a price-to-earnings ratio of -27.45 and a beta of 0.41.

Limoneira Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Monday, October 6th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, October 6th. Limoneira’s dividend payout ratio is -54.55%.

Institutional Investors Weigh In On Limoneira

Hedge funds and other institutional investors have recently modified their holdings of the company. Penn Capital Management Company LLC lifted its holdings in shares of Limoneira by 175.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 37,105 shares of the company’s stock worth $551,000 after purchasing an additional 23,645 shares in the last quarter. Two Sigma Investments LP raised its holdings in Limoneira by 83.5% during the third quarter. Two Sigma Investments LP now owns 36,884 shares of the company’s stock worth $548,000 after buying an additional 16,788 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Limoneira in the third quarter valued at $235,000. BNP Paribas Financial Markets grew its holdings in shares of Limoneira by 94.3% during the third quarter. BNP Paribas Financial Markets now owns 3,301 shares of the company’s stock valued at $49,000 after buying an additional 1,602 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Limoneira by 5.7% during the third quarter. Russell Investments Group Ltd. now owns 25,614 shares of the company’s stock worth $380,000 after acquiring an additional 1,380 shares in the last quarter. Institutional investors 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.