Limoneira (NASDAQ:LMNR) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Limoneira (NASDAQ:LMNR) from a hold rating to a sell rating in a research note released on Wednesday morning.

Other equities analysts have also recently issued research reports about the stock. Lake Street Capital reaffirmed a “hold” rating and set a $25.00 price objective on shares of Limoneira in a research report on Tuesday, September 10th. B. Riley boosted their price objective on Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.33.

Limoneira Trading Down 7.0 %

NASDAQ LMNR opened at $24.95 on Wednesday. Limoneira has a 12 month low of $17.37 and a 12 month high of $29.22. The stock has a market capitalization of $450.35 million, a P/E ratio of 86.03 and a beta of 0.49. The firm’s 50-day moving average is $26.89 and its two-hundred day moving average is $24.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.93 and a quick ratio of 0.84.

Limoneira Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a $0.075 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.30 annualized dividend and a dividend yield of 1.20%. Limoneira’s dividend payout ratio (DPR) is 103.45%.

Institutional Trading of Limoneira

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in Limoneira by 14.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after purchasing an additional 436 shares during the period. Rhumbline Advisers increased its stake in shares of Limoneira by 7.4% during the second quarter. Rhumbline Advisers now owns 22,708 shares of the company’s stock worth $473,000 after buying an additional 1,565 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Limoneira by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company’s stock worth $2,700,000 after buying an additional 1,934 shares during the period. Gabelli Funds LLC raised its holdings in Limoneira by 2.5% in the second quarter. Gabelli Funds LLC now owns 123,300 shares of the company’s stock valued at $2,566,000 after acquiring an additional 3,000 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Limoneira by 32.9% in the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock worth $462,000 after acquiring an additional 5,498 shares during the last quarter. 64.35% of the stock is currently owned by institutional investors and hedge funds.

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.