Limoneira (NASDAQ:LMNR) Upgraded to “Sell” at StockNews.com

Limoneira (NASDAQ:LMNR) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research report issued on Friday.

Separately, Lake Street Capital decreased their price target on Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, March 13th.

Limoneira Trading Down 1.8 %

Limoneira stock opened at $17.56 on Friday. Limoneira has a 12-month low of $17.12 and a 12-month high of $29.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.69. The stock has a market capitalization of $316.87 million, a PE ratio of 46.21 and a beta of 0.46. The firm has a 50 day simple moving average of $21.46 and a 200-day simple moving average of $24.60.

Limoneira declared that its Board of Directors has initiated a stock buyback program on Monday, March 17th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Limoneira

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in Limoneira by 14.3% in the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after buying an additional 436 shares during the last quarter. Barclays PLC boosted its stake in shares of Limoneira by 269.7% during the 3rd quarter. Barclays PLC now owns 21,708 shares of the company’s stock worth $575,000 after acquiring an additional 15,836 shares in the last quarter. State Street Corp boosted its stake in shares of Limoneira by 3.7% during the 3rd quarter. State Street Corp now owns 311,388 shares of the company’s stock worth $8,252,000 after acquiring an additional 11,003 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Limoneira by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 120,532 shares of the company’s stock worth $2,948,000 after acquiring an additional 3,932 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Limoneira by 27.9% during the third quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company’s stock worth $241,000 after purchasing an additional 1,981 shares during the period. 64.35% of the stock is owned by institutional investors and hedge funds.

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.