StockNews.com Upgrades Limoneira (NASDAQ:LMNR) to Hold

Limoneira (NASDAQ:LMNR) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Lake Street Capital lowered their price objective on shares of Limoneira from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday.

Limoneira Stock Performance

Shares of LMNR stock opened at $18.51 on Thursday. The firm has a market cap of $334.01 million, a price-to-earnings ratio of 48.71 and a beta of 0.46. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.69 and a current ratio of 0.74. Limoneira has a 52 week low of $17.80 and a 52 week high of $29.22. The firm’s 50-day simple moving average is $22.73 and its two-hundred day simple moving average is $25.12.

Institutional Trading of Limoneira

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of Limoneira by 14.3% in the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock valued at $92,000 after purchasing an additional 436 shares during the period. Barclays PLC raised its position in shares of Limoneira by 269.7% in the third quarter. Barclays PLC now owns 21,708 shares of the company’s stock valued at $575,000 after purchasing an additional 15,836 shares during the period. State Street Corp raised its position in shares of Limoneira by 3.7% in the third quarter. State Street Corp now owns 311,388 shares of the company’s stock valued at $8,252,000 after purchasing an additional 11,003 shares during the period. Global Alpha Capital Management Ltd. raised its position in shares of Limoneira by 3.0% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,299,703 shares of the company’s stock valued at $87,442,000 after purchasing an additional 96,054 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Limoneira by 27.9% in the third quarter. JPMorgan Chase & Co. now owns 9,086 shares of the company’s stock valued at $241,000 after purchasing an additional 1,981 shares during the period. Institutional investors own 64.35% of the company’s stock.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.