Analysts Set Limoneira Co (NASDAQ:LMNR) Target Price at $18.50

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

A number of brokerages have weighed in on LMNR. Weiss Ratings reissued a “sell (d)” rating on shares of Limoneira in a research report on Friday, March 27th. Zacks Research raised Limoneira from a “strong sell” rating to a “hold” rating in a research report on Friday, February 27th. Lake Street Capital decreased their target price on Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, HC Wainwright lowered Limoneira to a “buy” rating in a research report on Wednesday.

Limoneira Price Performance

Shares of NASDAQ:LMNR opened at $12.96 on Wednesday. Limoneira has a fifty-two week low of $11.66 and a fifty-two week high of $16.99. The business has a 50-day simple moving average of $12.85 and a two-hundred day simple moving average of $13.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 1.68. The firm has a market cap of $234.96 million, a price-to-earnings ratio of -5.68 and a beta of 0.30.

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

Institutional Investors Weigh In On Limoneira

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of Limoneira by 64.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock valued at $27,000 after purchasing an additional 668 shares during the period. Leonteq Securities AG grew its stake in shares of Limoneira by 88.8% during the 1st quarter. Leonteq Securities AG now owns 3,386 shares of the company’s stock valued at $45,000 after purchasing an additional 1,593 shares during the period. MetLife Investment Management LLC grew its stake in shares of Limoneira by 45.0% during the 4th quarter. MetLife Investment Management LLC now owns 9,765 shares of the company’s stock valued at $123,000 after purchasing an additional 3,029 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Limoneira during the 3rd quarter valued at about $151,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Limoneira during the 4th quarter valued at about $150,000. 64.35% of the stock is currently owned by 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.