Limoneira (NASDAQ:LMNR) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Limoneira (NASDAQ:LMNR) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Several other brokerages have also recently weighed in on LMNR. B. Riley increased their target price on Limoneira from $24.00 to $28.00 and gave the company a buy rating in a report on Wednesday, September 4th. Lake Street Capital reissued a hold rating and set a $25.00 price objective on shares of Limoneira in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Limoneira has a consensus rating of Moderate Buy and a consensus target price of $25.33.

Limoneira Stock Performance

NASDAQ LMNR opened at $25.96 on Wednesday. The company has a 50-day simple moving average of $22.37 and a two-hundred day simple moving average of $20.70. Limoneira has a 12-month low of $13.88 and a 12-month high of $25.98. The firm has a market cap of $468.58 million, a price-to-earnings ratio of -199.69, a PEG ratio of 5.91 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.21.

Limoneira Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, July 8th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.30 dividend on an annualized basis and a yield of 1.16%. Limoneira’s dividend payout ratio is presently -230.77%.

Hedge Funds Weigh In On Limoneira

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gabelli Funds LLC boosted its holdings in Limoneira by 24.0% in the first quarter. Gabelli Funds LLC now owns 120,300 shares of the company’s stock valued at $2,353,000 after acquiring an additional 23,300 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Limoneira by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 35,138 shares of the company’s stock valued at $687,000 after purchasing an additional 2,923 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Limoneira by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 927,965 shares of the company’s stock valued at $18,151,000 after purchasing an additional 14,572 shares in the last quarter. Baker Ellis Asset Management LLC increased its position in shares of Limoneira by 46.9% during the first quarter. Baker Ellis Asset Management LLC now owns 29,900 shares of the company’s stock valued at $585,000 after buying an additional 9,550 shares during the period. Finally, Bulldog Investors LLP bought a new position in Limoneira in the fourth quarter worth about $413,000. Institutional investors own 64.35% of the company’s stock.

About Limoneira

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.