Limoneira (NASDAQ:LMNR) Receives $23.25 Average PT from Brokerages


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Limoneira (NASDAQ:LMNR) has been assigned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.25.

Several equities research analysts have recently weighed in on LMNR shares. Northland Securities raised Limoneira from a “market perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research report on Friday, March 12th. Stephens raised Limoneira from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $17.00 to $20.00 in a research report on Thursday, March 11th. Zacks Investment Research raised Limoneira from a “sell” rating to a “hold” rating in a research report on Wednesday, March 17th. Roth Capital raised their target price on Limoneira from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, March 11th. Finally, Lake Street Capital raised their target price on Limoneira from $18.00 to $20.50 and gave the stock a “buy” rating in a research report on Thursday, March 11th.

In other Limoneira news, Director Jose De Jesus Loza purchased 12,560 shares of the firm’s stock in a transaction that occurred on Friday, March 19th. The shares were purchased at an average cost of $17.28 per share, for a total transaction of $217,036.80. Following the completion of the purchase, the director now directly owns 287,128 shares in the company, valued at $4,961,571.84. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders acquired 30,850 shares of company stock worth $542,093 and sold 6,119 shares worth $107,346. Company insiders own 4.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of LMNR. Citigroup Inc. raised its holdings in Limoneira by 259.6% during the fourth quarter. Citigroup Inc. now owns 3,276 shares of the company’s stock worth $55,000 after purchasing an additional 2,365 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Limoneira during the fourth quarter worth $183,000. Minot Wealth Management LLC acquired a new position in Limoneira during the first quarter worth $193,000. D.A. Davidson & CO. acquired a new position in Limoneira during the fourth quarter worth $195,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Limoneira by 15.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,553 shares of the company’s stock worth $209,000 after acquiring an additional 1,677 shares during the last quarter. 52.88% of the stock is owned by hedge funds and other institutional investors.

LMNR stock traded down $0.09 during mid-day trading on Tuesday, reaching $18.44. The company had a trading volume of 1,107 shares, compared to its average volume of 65,266. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.58 and a current ratio of 1.78. The company has a market capitalization of $326.11 million, a price-to-earnings ratio of -19.01, a price-to-earnings-growth ratio of 5.67 and a beta of 1.04. The firm has a fifty day simple moving average of $17.46 and a 200 day simple moving average of $16.13. Limoneira has a fifty-two week low of $10.91 and a fifty-two week high of $19.37.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Tuesday, March 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.03. The company had revenue of $38.28 million for the quarter, compared to analyst estimates of $35.37 million. Limoneira had a negative return on equity of 5.77% and a negative net margin of 9.99%. As a group, analysts predict that Limoneira will post 0.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Monday, April 5th were paid a $0.075 dividend. The ex-dividend date of this dividend was Thursday, April 1st. This represents a $0.30 annualized dividend and a dividend yield of 1.63%. Limoneira’s dividend payout ratio (DPR) is currently -43.48%.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through four segments: Fresh Lemons, Lemon Packing, Avocados, and Other Agribusiness. 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, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, and wine grapes.

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Analyst Recommendations for Limoneira (NASDAQ:LMNR)

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