Zacks Investment Research upgraded shares of Limoneira (NASDAQ:LMNR) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. The firm currently has $21.00 price target on the stock.
According to Zacks, “Limoneira Company is an agribusiness and real estate development company. Its current operations consist of fruit production and marketing, real estate development and capital investment activities. Limoneira has three business segments: agribusiness, rental operations, and real estate development. The agribusiness segment includes its farming and lemon packing operations. The Company produces lemons, avocados, oranges, and other specialty crops. The rental operations segment includes housing, organic recycling, commercial and leased land operations. The real estate development segment includes its real estate projects and development. Limoneira Company is based in Santa Paula, California. “
Other equities research analysts also recently issued research reports about the company. ValuEngine raised Limoneira from a buy rating to a strong-buy rating in a research report on Saturday, August 31st. National Securities initiated coverage on Limoneira in a research report on Monday, July 22nd. They set a buy rating and a $30.00 price objective on the stock. Finally, BidaskClub raised Limoneira from a sell rating to a hold rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Limoneira currently has a consensus rating of Buy and a consensus target price of $24.40.
NASDAQ:LMNR traded down $0.05 during midday trading on Tuesday, hitting $18.52. 17,300 shares of the company traded hands, compared to its average volume of 65,339. Limoneira has a 12-month low of $17.05 and a 12-month high of $25.70. The firm’s fifty day moving average is $18.59 and its 200-day moving average is $19.50. The firm has a market capitalization of $333.24 million, a P/E ratio of 37.04, a P/E/G ratio of 2.01 and a beta of 1.06. The company has a current ratio of 1.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, October 7th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Friday, October 4th. Limoneira’s dividend payout ratio is presently 60.00%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can boosted its holdings in Limoneira by 132,800.0% in the second quarter. Bank of Montreal Can now owns 1,329 shares of the company’s stock worth $27,000 after acquiring an additional 1,328 shares in the last quarter. Aperio Group LLC acquired a new stake in Limoneira in the second quarter worth about $41,000. JPMorgan Chase & Co. boosted its holdings in Limoneira by 18.4% in the second quarter. JPMorgan Chase & Co. now owns 4,296 shares of the company’s stock worth $83,000 after acquiring an additional 668 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Limoneira by 13.8% in the third quarter. California Public Employees Retirement System now owns 22,200 shares of the company’s stock worth $408,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Limoneira by 10.2% in the third quarter. Rhumbline Advisers now owns 22,678 shares of the company’s stock worth $416,000 after purchasing an additional 2,104 shares during the last quarter. 52.60% of the stock is owned by institutional investors and hedge funds.
Limoneira Company Profile
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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