Limoneira (NASDAQ:LMNR) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Limoneira (NASDAQ:LMNR) from a strong sell rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. Lake Street Capital cut their price target on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Limoneira in a report on Wednesday, June 24th. Finally, HC Wainwright cut shares of Limoneira to a “buy” rating in a research report on Wednesday, June 10th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Limoneira Price Performance

Shares of LMNR stock opened at $14.99 on Friday. The stock has a 50 day moving average price of $13.64 and a 200 day moving average price of $13.35. Limoneira has a 52-week low of $11.66 and a 52-week high of $16.44. 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 capitalization of $271.77 million, a P/E ratio of -6.57 and a beta of 0.32.

Limoneira (NASDAQ:LMNR) last announced 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 during the quarter, compared to the consensus estimate of $21.42 million. As a group, sell-side analysts predict that Limoneira will post -0.45 earnings per share for the current year.

Institutional Trading of Limoneira

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Limoneira in the second quarter worth about $15,065,000. First Wilshire Securities Management Inc. increased its position in Limoneira by 122.2% during the 1st quarter. First Wilshire Securities Management Inc. now owns 578,059 shares of the company’s stock valued at $7,758,000 after purchasing an additional 317,872 shares during the period. Flax Pond Capital LLC bought a new stake in shares of Limoneira in the 4th quarter valued at about $2,145,000. Qube Research & Technologies Ltd raised its holdings 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 valued at $1,160,000 after purchasing an additional 62,080 shares in the last quarter. Finally, SFE Investment Counsel bought a new stake in shares of Limoneira in the 2nd quarter valued at about $788,000. 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.