Limoneira (NASDAQ:LMNR) Raised to “Hold” at Zacks Research

Limoneira (NASDAQ:LMNR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently commented on LMNR. Roth Capital reiterated a “buy” rating on shares of Limoneira in a research note on Monday, September 15th. Stephens began coverage on shares of Limoneira in a research report on Friday, September 12th. They set an “equal weight” rating and a $18.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Limoneira currently has a consensus rating of “Hold” and a consensus price target of $20.50.

Limoneira Price Performance

Shares of LMNR stock opened at $13.64 on Tuesday. The firm has a fifty day simple moving average of $14.76 and a 200-day simple moving average of $15.29. The company has a market capitalization of $246.17 million, a PE ratio of -24.80 and a beta of 0.42. Limoneira has a twelve month low of $13.25 and a twelve month high of $28.41. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On Limoneira

Several institutional investors have recently modified their holdings of LMNR. Envestnet Asset Management Inc. boosted its position in shares of Limoneira by 45.6% during the first quarter. Envestnet Asset Management Inc. now owns 42,256 shares of the company’s stock worth $749,000 after buying an additional 13,243 shares during the period. Peapod Lane Capital LLC bought a new stake in shares of Limoneira during the second quarter valued at about $1,927,000. American Century Companies Inc. lifted its holdings in Limoneira by 9.9% in the first quarter. American Century Companies Inc. now owns 35,331 shares of the company’s stock worth $626,000 after purchasing an additional 3,171 shares during the period. Nuveen LLC bought a new position in Limoneira in the 1st quarter valued at about $1,028,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Limoneira during the 1st quarter valued at about $4,487,000. Institutional investors own 64.35% 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 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.