Limoneira (NASDAQ:LMNR – Get Free Report) declared that its Board of Directors has authorized a stock buyback plan on Monday, March 17th, RTT News reports. The company plans to repurchase $30.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on LMNR shares. Lake Street Capital decreased their price objective on Limoneira from $25.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, March 13th. StockNews.com raised Limoneira from a “sell” rating to a “hold” rating in a research note on Thursday, March 13th.
View Our Latest Report on Limoneira
Limoneira Stock Performance
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.
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