Limoneira (NASDAQ:LMNR) Downgraded by ValuEngine to “Hold”

Limoneira (NASDAQ:LMNR) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, March 30th, ValuEngine reports.

Several other research analysts also recently weighed in on the stock. Roth Capital set a $28.00 price target on shares of Limoneira and gave the stock a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research upgraded shares of Limoneira from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Stephens started coverage on Limoneira in a research note on Tuesday, January 8th. They set an “overweight” rating for the company. Finally, BidaskClub upgraded Limoneira from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $30.20.

NASDAQ:LMNR traded up $0.11 during trading hours on Friday, reaching $23.52. The company’s stock had a trading volume of 36,756 shares, compared to its average volume of 67,138. The company has a market capitalization of $418.02 million, a price-to-earnings ratio of 47.04, a price-to-earnings-growth ratio of 2.01 and a beta of 0.99. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.44. Limoneira has a 12 month low of $18.07 and a 12 month high of $33.42.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). Limoneira had a return on equity of 3.73% and a net margin of 4.91%. The business had revenue of $42.02 million for the quarter, compared to analyst estimates of $44.74 million. On average, sell-side analysts expect that Limoneira will post 0.77 EPS for the current year.

In related news, CFO Mark Palamountain sold 1,611 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $24.35, for a total transaction of $39,227.85. Following the completion of the sale, the chief financial officer now directly owns 49,698 shares in the company, valued at $1,210,146.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert M. Sawyer sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $24.28, for a total transaction of $30,350.00. The disclosure for this sale can be found here. Insiders sold a total of 6,172 shares of company stock worth $148,825 in the last 90 days. 4.50% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in Limoneira by 50.6% in the 4th quarter. Rhumbline Advisers now owns 19,984 shares of the company’s stock worth $391,000 after buying an additional 6,711 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Limoneira in the 1st quarter worth approximately $430,000. Global Alpha Capital Management Ltd. lifted its position in Limoneira by 4.9% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 886,850 shares of the company’s stock worth $17,338,000 after buying an additional 41,400 shares in the last quarter. Renaissance Technologies LLC lifted its position in Limoneira by 22.1% in the 3rd quarter. Renaissance Technologies LLC now owns 79,600 shares of the company’s stock worth $2,078,000 after buying an additional 14,400 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Limoneira in the 3rd quarter worth approximately $3,333,000. 51.13% of the stock is owned by hedge funds and other institutional investors.

About Limoneira

Limoneira Co is an agribusiness and real estate development company, which engages in the innovation of agricultural citrus industry in California. It operates through the following three divisions: Agribusiness, Rental Operations and Real Estate Development. The Agribusiness division comprised of lemon operations and other agribusiness segments include farming, harvesting, lemon packing, and lemon sales operations.

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Analyst Recommendations for Limoneira (NASDAQ:LMNR)

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