Limoneira (NASDAQ:LMNR) Raised to Sell at StockNews.com

Limoneira (NASDAQ:LMNR) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Friday.

Separately, Lake Street Capital dropped their price target on Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, March 13th.

Limoneira Stock Up 1.0 %

LMNR opened at $17.89 on Friday. The company has a market cap of $322.83 million, a PE ratio of 47.08 and a beta of 0.46. Limoneira has a twelve month low of $17.12 and a twelve month high of $29.22. The company has a 50-day moving average price of $21.57 and a 200 day moving average price of $24.64. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21.

Limoneira announced that its board has initiated a stock buyback program on Monday, March 17th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to purchase up to 8.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Limoneira

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Limoneira by 14.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock valued at $92,000 after buying an additional 436 shares during the period. Invesco Ltd. lifted its holdings in Limoneira by 2.0% in the fourth quarter. Invesco Ltd. now owns 25,547 shares of the company’s stock valued at $625,000 after acquiring an additional 500 shares during the last quarter. Inspire Investing LLC grew its position in Limoneira by 3.9% in the fourth quarter. Inspire Investing LLC now owns 16,279 shares of the company’s stock worth $398,000 after acquiring an additional 617 shares during the period. Van ECK Associates Corp increased its stake in Limoneira by 77.5% during the fourth quarter. Van ECK Associates Corp now owns 2,581 shares of the company’s stock worth $63,000 after acquiring an additional 1,127 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Limoneira by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock valued at $169,000 after purchasing an additional 1,160 shares during the period. 64.35% of the stock is owned by hedge funds and other institutional investors.

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.