Limoneira (LMNR) Downgraded to Sell at Zacks Investment Research

Limoneira (NASDAQ:LMNR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Limoneira Company is an agribusiness and real estate development company. Its current operations consist of fruit production and marketing, real estate development and capital investment activities. Limoneira has three business segments: agribusiness, rental operations, and real estate development. The agribusiness segment includes its farming and lemon packing operations. The Company produces lemons, avocados, oranges, and other specialty crops. The rental operations segment includes housing, organic recycling, commercial and leased land operations. The real estate development segment includes its real estate projects and development. Limoneira Company is based in Santa Paula, California. “

Other analysts have also issued research reports about the stock. TheStreet raised shares of Limoneira from a “c+” rating to a “b” rating in a report on Wednesday, April 11th. Stifel Nicolaus initiated coverage on shares of Limoneira in a report on Thursday, June 28th. They issued a “buy” rating and a $30.00 price target for the company. Buckingham Research raised their price target on shares of Limoneira from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 12th. Lake Street Capital raised their price target on shares of Limoneira to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 12th. Finally, BidaskClub raised shares of Limoneira from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $29.00.

Shares of Limoneira opened at $25.95 on Wednesday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.90. The company has a market capitalization of $454.63 million, a P/E ratio of 61.79, a P/E/G ratio of 2.47 and a beta of 0.85. Limoneira has a fifty-two week low of $19.62 and a fifty-two week high of $26.80.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results on Monday, June 11th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $43.14 million during the quarter, compared to analyst estimates of $41.70 million. Limoneira had a net margin of 15.53% and a return on equity of 7.15%. equities analysts predict that Limoneira will post 0.69 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new position in Limoneira in the fourth quarter valued at approximately $139,000. Chicago Equity Partners LLC bought a new position in Limoneira in the first quarter valued at approximately $297,000. Royal Bank of Canada boosted its stake in Limoneira by 62.0% in the first quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock valued at $316,000 after acquiring an additional 5,103 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Limoneira by 39.5% in the fourth quarter. Wells Fargo & Company MN now owns 18,100 shares of the company’s stock valued at $405,000 after acquiring an additional 5,121 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Limoneira by 144.8% in the fourth quarter. Deutsche Bank AG now owns 27,233 shares of the company’s stock valued at $607,000 after acquiring an additional 16,108 shares during the last quarter. 24.94% of the stock is currently owned by hedge funds and other institutional investors.

Limoneira Company Profile

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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