Limoneira (LMNR) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Limoneira (NASDAQ:LMNR) from a hold rating to a sell rating in a research report report published on Friday morning.

Several other brokerages have also weighed in on LMNR. Buckingham Research increased their target price on Limoneira from $30.00 to $32.00 and gave the stock a buy rating in a research report on Tuesday, September 11th. Zacks Investment Research raised Limoneira from a sell rating to a hold rating in a research report on Wednesday, August 29th. Lake Street Capital set a $31.00 target price on Limoneira and gave the stock a buy rating in a research report on Tuesday, September 11th. Finally, ValuEngine raised Limoneira from a hold rating to a buy rating in a research report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $29.50.

Shares of LMNR opened at $22.03 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 0.99. The firm has a market capitalization of $394.91 million, a P/E ratio of 33.86, a PEG ratio of 1.63 and a beta of 0.85. Limoneira has a twelve month low of $19.62 and a twelve month high of $33.42.

Limoneira (NASDAQ:LMNR) last issued its earnings results on Monday, September 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). The firm had revenue of $39.95 million during the quarter, compared to analysts’ expectations of $37.68 million. Limoneira had a return on equity of 6.46% and a net margin of 15.91%. Equities research analysts expect that Limoneira will post 0.66 EPS for the current year.

In other Limoneira news, major shareholder Calavo Growers Inc sold 8,275 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $23.84, for a total value of $197,276.00. Following the transaction, the insider now directly owns 1,720,295 shares of the company’s stock, valued at $41,011,832.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W.H. Merriman sold 2,200 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $28.01, for a total value of $61,622.00. Following the completion of the transaction, the director now directly owns 1,218 shares in the company, valued at $34,116.18. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in shares of Limoneira during the third quarter valued at about $3,333,000. Vanguard Group Inc. grew its stake in shares of Limoneira by 8.3% during the third quarter. Vanguard Group Inc. now owns 644,144 shares of the company’s stock valued at $16,819,000 after acquiring an additional 49,127 shares in the last quarter. Morgan Stanley grew its stake in shares of Limoneira by 3.3% during the third quarter. Morgan Stanley now owns 109,033 shares of the company’s stock valued at $2,847,000 after acquiring an additional 3,513 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Limoneira by 61.5% during the third quarter. TIAA CREF Investment Management LLC now owns 42,648 shares of the company’s stock valued at $1,114,000 after acquiring an additional 16,233 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Limoneira by 40.8% during the third quarter. Teachers Advisors LLC now owns 28,389 shares of the company’s stock valued at $741,000 after acquiring an additional 8,229 shares in the last quarter. Institutional investors own 50.29% of the company’s stock.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.

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