Analysts Set Limoneira Co (NASDAQ:LMNR) PT at $20.50

Shares of Limoneira Co (NASDAQ:LMNR) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.50.

LMNR has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a research note on Friday. Stephens initiated coverage on Limoneira in a research note on Friday, September 12th. They set an “equal weight” rating and a $18.00 price objective on the stock. Roth Capital reissued a “buy” rating on shares of Limoneira in a research note on Monday, September 15th. Finally, Zacks Research cut Limoneira from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 16th.

Limoneira Price Performance

NASDAQ:LMNR opened at $13.91 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $251.05 million, a P/E ratio of -25.29 and a beta of 0.43. Limoneira has a 12 month low of $13.90 and a 12 month high of $29.22. The business’s 50-day moving average is $15.04 and its 200 day moving average is $15.38.

Limoneira Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Monday, October 6th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, October 6th. Limoneira’s payout ratio is presently -54.55%.

Institutional Investors Weigh In On Limoneira

Several large investors have recently added to or reduced their stakes in LMNR. Envestnet Asset Management Inc. grew its stake in shares of Limoneira by 45.6% during the first quarter. Envestnet Asset Management Inc. now owns 42,256 shares of the company’s stock valued at $749,000 after buying an additional 13,243 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Limoneira during the first quarter valued at approximately $4,487,000. Global Alpha Capital Management Ltd. grew its stake in shares of Limoneira by 0.4% during the first quarter. Global Alpha Capital Management Ltd. now owns 3,278,681 shares of the company’s stock valued at $58,098,000 after buying an additional 14,500 shares during the last quarter. Nuveen LLC bought a new position in shares of Limoneira during the first quarter valued at approximately $1,028,000. Finally, American Century Companies Inc. grew its stake in shares of Limoneira by 9.9% during the first quarter. American Century Companies Inc. now owns 35,331 shares of the company’s stock valued at $626,000 after buying an additional 3,171 shares during the last quarter. 64.35% of the stock is owned by institutional investors.

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.