Limoneira (NASDAQ:LMNR) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Limoneira (NASDAQ:LMNR) from a strong sell rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.

A number of other brokerages also recently commented on LMNR. ValuEngine raised shares of Limoneira from a hold rating to a buy rating in a research report on Thursday, March 14th. Zacks Investment Research raised shares of Limoneira from a sell rating to a hold rating in a research report on Friday, March 15th. Stephens downgraded shares of Limoneira from an overweight rating to an equal weight rating and lowered their price objective for the company from $25.00 to $18.00 in a research report on Tuesday, May 14th. Lake Street Capital reaffirmed a buy rating and set a $25.00 price objective (down from $28.00) on shares of Limoneira in a research report on Thursday. Finally, TheStreet downgraded shares of Limoneira from a b- rating to a c+ rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $26.60.

LMNR traded down $0.12 on Thursday, reaching $20.01. 8,289 shares of the company traded hands, compared to its average volume of 66,843. Limoneira has a 52-week low of $18.07 and a 52-week high of $33.42. The company has a market capitalization of $367.54 million, a PE ratio of 40.02, a PEG ratio of 4.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.28 and a current ratio of 1.04.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings data on Monday, June 10th. The company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. Limoneira had a net margin of 2.22% and a negative return on equity of 0.26%. The firm had revenue of $42.04 million for the quarter, compared to the consensus estimate of $43.54 million. On average, equities analysts forecast that Limoneira will post 0.28 earnings per share for the current fiscal year.

In other Limoneira news, Director John W.H. Merriman sold 1,811 shares of Limoneira stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $24.09, for a total value of $43,626.99. Following the completion of the sale, the director now directly owns 2,011 shares in the company, valued at $48,444.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 4,911 shares of company stock valued at $111,784 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its stake in shares of Limoneira by 1.7% in the first quarter. First Trust Advisors LP now owns 26,878 shares of the company’s stock worth $632,000 after buying an additional 445 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Limoneira by 3.8% in the first quarter. Stephens Inc. AR now owns 12,816 shares of the company’s stock worth $302,000 after buying an additional 464 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Limoneira by 0.5% in the first quarter. Northern Trust Corp now owns 176,059 shares of the company’s stock worth $4,142,000 after buying an additional 922 shares during the last quarter. Two Sigma Investments LP raised its stake in Limoneira by 4.5% during the 4th quarter. Two Sigma Investments LP now owns 33,434 shares of the company’s stock valued at $654,000 after purchasing an additional 1,434 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Limoneira by 5.2% during the 1st quarter. Wells Fargo & Company MN now owns 29,754 shares of the company’s stock valued at $700,000 after purchasing an additional 1,474 shares during the last quarter. Institutional investors and hedge funds own 54.06% 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 in six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons.

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Analyst Recommendations for Limoneira (NASDAQ:LMNR)

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