Limoneira (NASDAQ:LMNR) Sets New 1-Year High at $27.89

Limoneira (NASDAQ:LMNR)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $27.89 and last traded at $27.89, with a volume of 64500 shares trading hands. The stock had previously closed at $27.50.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. B. Riley lifted their target price on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Lake Street Capital reaffirmed a “hold” rating and set a $25.00 price target on shares of Limoneira in a report on Tuesday, September 10th. Finally, StockNews.com raised shares of Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Limoneira has an average rating of “Moderate Buy” and an average price target of $25.33.

Limoneira Stock Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.93 and a quick ratio of 0.84. The firm’s 50-day moving average price is $22.90 and its 200-day moving average price is $20.93. The stock has a market cap of $499.45 million, a P/E ratio of -211.54, a PEG ratio of 5.91 and a beta of 0.48.

Limoneira Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, July 8th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, July 8th. Limoneira’s dividend payout ratio is presently -230.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Alpha Capital Management Ltd. boosted its stake in shares of Limoneira by 0.7% during the first quarter. Global Alpha Capital Management Ltd. now owns 3,006,940 shares of the company’s stock valued at $58,816,000 after purchasing an additional 20,000 shares during the period. Vanguard Group Inc. grew its stake in Limoneira by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 927,965 shares of the company’s stock worth $18,151,000 after acquiring an additional 14,572 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Limoneira by 3.5% during the first quarter. Gamco Investors INC. ET AL now owns 211,403 shares of the company’s stock worth $4,135,000 after acquiring an additional 7,103 shares during the period. Riverwater Partners LLC raised its stake in shares of Limoneira by 26.4% during the first quarter. Riverwater Partners LLC now owns 139,946 shares of the company’s stock valued at $2,737,000 after acquiring an additional 29,187 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Limoneira by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock valued at $2,700,000 after purchasing an additional 1,934 shares during the period. 64.35% of the stock is owned by hedge funds and other institutional investors.

Limoneira Company Profile

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.