Limoneira (NASDAQ:LMNR – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday, Zacks reports.
Several other brokerages also recently commented on LMNR. Weiss Ratings upgraded shares of Limoneira from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Lake Street Capital dropped their price target on shares of Limoneira from $18.00 to $16.50 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Finally, Wall Street Zen upgraded shares of Limoneira from a “strong sell” rating to a “sell” rating in a report on Saturday, September 5th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.50.
Check Out Our Latest Research Report on LMNR
Limoneira Price Performance
Limoneira (NASDAQ:LMNR – Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.17). The firm had revenue of $43.81 million for the quarter, compared to analysts’ expectations of $49.62 million. Limoneira had a negative return on equity of 13.91% and a negative net margin of 33.03%. As a group, analysts forecast that Limoneira will post -0.73 EPS for the current fiscal year.
Hedge Funds Weigh In On Limoneira
Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Limoneira by 5.5% during the first quarter. Bank of America Corp DE now owns 16,559 shares of the company’s stock worth $222,000 after acquiring an additional 859 shares during the period. Flax Pond Capital LLC boosted its position in Limoneira by 0.7% in the first quarter. Flax Pond Capital LLC now owns 171,132 shares of the company’s stock worth $2,297,000 after purchasing an additional 1,224 shares during the last quarter. Leonteq Securities AG grew its stake in Limoneira by 88.8% in the 1st quarter. Leonteq Securities AG now owns 3,386 shares of the company’s stock valued at $45,000 after purchasing an additional 1,593 shares during the period. Trust Co. of Vermont bought a new position in Limoneira in the 2nd quarter valued at $33,000. Finally, Whittier Trust Co. grew its stake in Limoneira by 16.0% in the 1st quarter. Whittier Trust Co. now owns 18,980 shares of the company’s stock valued at $249,000 after purchasing an additional 2,612 shares during the period. 64.35% of the stock is owned by institutional investors.
About Limoneira
Limoneira Company (NASDAQ: LMNR) is an agribusiness headquartered in Santa Paula, California. Founded in 1893, the company is one of the oldest continuously operating citrus businesses in the United States and owns, leases, and manages agricultural land used primarily for citrus and avocado production.
The company’s principal products include lemons, avocados, oranges, and other specialty citrus varieties. Limoneira also operates packing and marketing activities, helping prepare and distribute fresh produce for retail, foodservice, wholesale, and industrial customers.
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