Limoneira Co (NASDAQ:LMNR) Receives $18.00 Average Price Target from Brokerages

Shares of Limoneira Co (NASDAQ:LMNR) have received an average recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.00.

Several equities analysts have issued reports on LMNR shares. Weiss Ratings restated a “sell (d)” rating on shares of Limoneira in a research note on Wednesday, June 24th. Lake Street Capital decreased their price objective on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, June 10th. Finally, HC Wainwright downgraded shares of Limoneira to a “buy” rating in a research report on Wednesday, June 10th.

Limoneira Stock Up 1.5%

LMNR stock opened at $13.16 on Thursday. The stock has a market capitalization of $238.59 million, a P/E ratio of -5.77 and a beta of 0.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.68 and a quick ratio of 1.53. Limoneira has a 1-year low of $11.66 and a 1-year high of $16.62. The business has a fifty day moving average price of $13.08 and a 200-day moving average price of $13.40.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data on Tuesday, June 9th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.08). Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%. The business had revenue of $23.93 million for the quarter, compared to analysts’ expectations of $21.42 million. Equities analysts forecast that Limoneira will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Limoneira

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Wilshire Securities Management Inc. boosted its stake in shares of Limoneira by 122.2% during the 1st quarter. First Wilshire Securities Management Inc. now owns 578,059 shares of the company’s stock worth $7,758,000 after acquiring an additional 317,872 shares during the last quarter. Flax Pond Capital LLC bought a new stake in shares of Limoneira during the 4th quarter valued at $2,145,000. Peapod Lane Capital LLC increased its stake in shares of Limoneira by 44.5% in the 4th quarter. Peapod Lane Capital LLC now owns 208,547 shares of the company’s stock worth $2,633,000 after purchasing an additional 64,178 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Limoneira by 515.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company’s stock worth $1,160,000 after purchasing an additional 62,080 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new position in Limoneira in the 2nd quarter worth $608,000. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.