Limoneira (NASDAQ:LMNR) Now Covered by Analysts at Freedom Broker

Freedom Broker began coverage on shares of Limoneira (NASDAQ:LMNR) in a research report issued on Wednesday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

Several other analysts have also recently issued reports on LMNR. Wall Street Zen raised shares of Limoneira from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings raised Limoneira from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 9th. Lake Street Capital cut their target price on Limoneira from $18.00 to $16.50 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Finally, Zacks Research cut shares of Limoneira from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Limoneira has an average rating of “Hold” and an average target price of $16.50.

Limoneira Stock Up 4.6%

LMNR opened at $10.52 on Wednesday. The company has a 50-day moving average price of $12.33 and a 200 day moving average price of $13.16. Limoneira has a twelve month low of $10.05 and a twelve month high of $15.43. The company has a market cap of $190.75 million, a PE ratio of -4.40 and a beta of 0.36. The company has a quick ratio of 1.44, a current ratio of 1.51 and a debt-to-equity ratio of 0.67.

Limoneira (NASDAQ:LMNR) last released its earnings results on Wednesday, September 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.17). The firm had revenue of $43.81 million during the quarter, compared to analysts’ expectations of $49.62 million. Limoneira had a negative net margin of 33.03% and a negative return on equity of 13.91%. Sell-side analysts expect that Limoneira will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Limoneira

Hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in Limoneira in the third quarter worth approximately $289,000. Telos Capital Management Inc. acquired a new position in Limoneira during the 3rd quarter worth approximately $240,000. Wedbush Securities Inc. acquired a new position in Limoneira during the 2nd quarter worth approximately $297,000. Parvin Asset Management LLC purchased a new stake in shares of Limoneira in the 2nd quarter valued at approximately $181,000. Finally, Bank of America Corp DE purchased a new stake in shares of Limoneira in the 2nd quarter valued at approximately $166,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

About Limoneira

Limoneira Company is an agribusiness and real estate development company headquartered in Santa Paula, California. Founded in 1893, the company is one of the oldest and largest lemon producers in the United States and owns or manages agricultural land primarily in California and Arizona.

Limoneira grows, packs, markets and distributes lemons, avocados, oranges and other specialty citrus products. Its operations include orchard management, harvesting, packing and fresh-produce marketing, with products sold through retailers, foodservice providers and other commercial customers in the United States and international markets.

In addition to its agricultural activities, Limoneira owns land and pursues real estate development projects connected to its properties.