Limoneira (NASDAQ:LMNR) Upgraded at Lake Street Capital

Lake Street Capital upgraded shares of Limoneira (NASDAQ:LMNR) from a hold rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $23.00 price objective on the stock.

Separately, Wall Street Zen upgraded shares of Limoneira to a “sell” rating in a research note on Wednesday, April 9th.

Limoneira Trading Up 2.4%

NASDAQ:LMNR opened at $16.06 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $15.80 and a 200 day moving average of $20.44. The firm has a market capitalization of $289.80 million, a P/E ratio of 42.26 and a beta of 0.45. Limoneira has a 52 week low of $14.80 and a 52 week high of $29.22.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Monday, June 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). Limoneira had a return on equity of 4.34% and a net margin of 4.03%. The business had revenue of $35.12 million during the quarter, compared to analysts’ expectations of $38.70 million. During the same period in the previous year, the business posted $0.44 EPS.

Limoneira Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were issued a $0.075 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.30 annualized dividend and a dividend yield of 1.87%. Limoneira’s dividend payout ratio is currently -214.29%.

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

Institutional Investors Weigh In On Limoneira

Hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC lifted its stake in shares of Limoneira by 19.2% in the first quarter. Inspire Investing LLC now owns 19,411 shares of the company’s stock worth $344,000 after acquiring an additional 3,132 shares in the last quarter. Jane Street Group LLC acquired a new position in Limoneira in the 1st quarter valued at approximately $335,000. Jacobs Levy Equity Management Inc. acquired a new position in Limoneira in the 1st quarter valued at approximately $256,000. Advisors Asset Management Inc. increased its stake in shares of Limoneira by 21.7% during the 1st quarter. Advisors Asset Management Inc. now owns 57,118 shares of the company’s stock worth $1,012,000 after purchasing an additional 10,173 shares during the last quarter. Finally, Caption Management LLC acquired a new position in shares of Limoneira during the 1st quarter worth $123,000. Hedge funds and other 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.