Limoneira (NASDAQ:LMNR) Upgraded at StockNews.com

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

Separately, Lake Street Capital lowered their price target on shares of Limoneira from $25.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, March 13th.

Limoneira Stock Up 1.0 %

LMNR stock opened at $17.89 on Friday. The company has a market capitalization of $322.83 million, a P/E ratio of 47.08 and a beta of 0.46. Limoneira has a 12 month low of $17.12 and a 12 month high of $29.22. The firm’s fifty day simple moving average is $21.57 and its 200-day simple moving average is $24.64. 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 declared that its board has authorized a stock repurchase plan on Monday, March 17th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to repurchase up to 8.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Limoneira

A number of hedge funds have recently added to or reduced their stakes in LMNR. BNP Paribas Financial Markets increased its holdings in Limoneira by 14.3% in the third 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 in the last quarter. Invesco Ltd. grew its position in shares of Limoneira by 2.0% during the 4th 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 period. Inspire Investing LLC increased its stake in shares of Limoneira by 3.9% in the 4th quarter. Inspire Investing LLC now owns 16,279 shares of the company’s stock valued at $398,000 after purchasing an additional 617 shares in the last quarter. Van ECK Associates Corp raised its holdings in Limoneira by 77.5% in the 4th quarter. Van ECK Associates Corp now owns 2,581 shares of the company’s stock worth $63,000 after purchasing an additional 1,127 shares during the period. Finally, SG Americas Securities LLC boosted its position in Limoneira by 20.1% during the fourth quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock worth $169,000 after purchasing an additional 1,160 shares in the last quarter. 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.