Limoneira (NASDAQ:LMNR) Board of Directors Initiates Share Repurchase Program

Limoneira (NASDAQ:LMNRGet 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

Shares of NASDAQ:LMNR opened at $18.86 on Tuesday. The business has a 50-day moving average of $22.48 and a two-hundred day moving average of $25.04. The firm has a market capitalization of $340.33 million, a PE ratio of 49.63 and a beta of 0.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.69. Limoneira has a 12 month low of $17.80 and a 12 month high of $29.22.

Limoneira Company Profile

(Get Free Report)

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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