Limoneira (NASDAQ:LMNR) Stock Picked Up by Analysts at Freedom Broker

Freedom Broker initiated coverage on shares of Limoneira (NASDAQ:LMNR) in a research note issued on Wednesday, Zacks reports. The firm set a “strong-buy” rating on the stock.

Several other analysts have also recently issued reports on LMNR. Wall Street Zen raised Limoneira from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Lake Street Capital reduced their price target on Limoneira from $18.00 to $16.50 and set a “buy” rating for the company in a research report on Thursday, September 10th. Weiss Ratings upgraded Limoneira from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 9th. Finally, Zacks Research downgraded Limoneira from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Limoneira currently has an average rating of “Hold” and a consensus target price of $16.50.

Limoneira Stock Up 4.6%

Shares of Limoneira stock opened at $10.52 on Wednesday. Limoneira has a 1 year low of $10.05 and a 1 year high of $15.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.51 and a quick ratio of 1.44. The stock has a market cap of $190.75 million, a price-to-earnings ratio of -4.40 and a beta of 0.36. The firm’s 50-day moving average is $12.33 and its two-hundred day moving average is $13.16.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data on Wednesday, September 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.17). The business had revenue of $43.81 million for the quarter, compared to the consensus estimate of $49.62 million. Limoneira had a negative net margin of 33.03% and a negative return on equity of 13.91%. As a group, research analysts expect that Limoneira will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Limoneira by 5.5% in the first quarter. Bank of America Corp DE now owns 16,559 shares of the company’s stock worth $222,000 after acquiring an additional 859 shares in the last quarter. Flax Pond Capital LLC increased its holdings in shares of Limoneira by 0.7% during the first quarter. Flax Pond Capital LLC now owns 171,132 shares of the company’s stock valued at $2,297,000 after acquiring an additional 1,224 shares in the last quarter. Leonteq Securities AG increased its holdings in shares of Limoneira by 88.8% during the first quarter. Leonteq Securities AG now owns 3,386 shares of the company’s stock valued at $45,000 after acquiring an additional 1,593 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Limoneira during the second quarter valued at about $33,000. Finally, Whittier Trust Co. raised its position in shares of Limoneira by 16.0% in the 1st quarter. Whittier Trust Co. now owns 18,980 shares of the company’s stock valued at $249,000 after purchasing an additional 2,612 shares during the last quarter. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

Limoneira Company Profile

Limoneira Company is an agribusiness and real estate development company headquartered in Santa Paula, California. Founded in 1893, the company is one of the oldest and largest lemon producers in the United States and owns or manages agricultural land primarily in California and Arizona.

Limoneira grows, packs, markets and distributes lemons, avocados, oranges and other specialty citrus products. Its operations include orchard management, harvesting, packing and fresh-produce marketing, with products sold through retailers, foodservice providers and other commercial customers in the United States and international markets.

In addition to its agricultural activities, Limoneira owns land and pursues real estate development projects connected to its properties.