Zacks Investment Research cut shares of Limoneira (NASDAQ:LMNR) from a buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “Limoneira Company is an agribusiness and real estate development company. Its current operations consist of fruit production and marketing, real estate development and capital investment activities. Limoneira has three business segments: agribusiness, rental operations, and real estate development. The agribusiness segment includes its farming and lemon packing operations. The Company produces lemons, avocados, oranges, and other specialty crops. The rental operations segment includes housing, organic recycling, commercial and leased land operations. The real estate development segment includes its real estate projects and development. Limoneira Company is based in Santa Paula, California. “
Several other research analysts have also recently weighed in on LMNR. BidaskClub upgraded Limoneira from a hold rating to a buy rating in a research report on Tuesday, April 3rd. TheStreet upgraded Limoneira from a c+ rating to a b rating in a research report on Wednesday, April 11th. Finally, ValuEngine cut Limoneira from a buy rating to a hold rating in a research report on Monday, April 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Limoneira currently has an average rating of Buy and a consensus price target of $27.00.
Shares of Limoneira opened at $24.58 on Tuesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 1.04. The company has a market cap of $356.49 million, a P/E ratio of 58.52 and a beta of 0.82. Limoneira has a twelve month low of $18.21 and a twelve month high of $26.06.
Limoneira (NASDAQ:LMNR) last announced its quarterly earnings results on Thursday, March 8th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.03. The company had revenue of $31.59 million during the quarter, compared to analysts’ expectations of $26.50 million. Limoneira had a return on equity of 5.27% and a net margin of 13.85%. equities analysts predict that Limoneira will post 0.69 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in Limoneira in the fourth quarter valued at approximately $139,000. Chicago Equity Partners LLC acquired a new stake in Limoneira in the first quarter valued at approximately $297,000. Wells Fargo & Company MN grew its holdings in Limoneira by 42.7% in the third quarter. Wells Fargo & Company MN now owns 12,979 shares of the company’s stock valued at $301,000 after purchasing an additional 3,886 shares during the period. Royal Bank of Canada grew its holdings in Limoneira by 62.0% in the first quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock valued at $316,000 after purchasing an additional 5,103 shares during the period. Finally, Algert Global LLC grew its holdings in Limoneira by 12.0% in the fourth quarter. Algert Global LLC now owns 25,370 shares of the company’s stock valued at $568,000 after purchasing an additional 2,720 shares during the period. 28.32% of the stock is currently owned by institutional investors.
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.
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