Limoneira (LMNR) Stock Rating Lowered by Zacks Investment Research

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

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 also recently issued research reports about the company. Stephens downgraded Limoneira from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $25.00 to $18.00 in a research note on Tuesday. Lake Street Capital set a $28.00 target price on Limoneira and gave the company a “buy” rating in a research note on Tuesday. BidaskClub raised Limoneira from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th. Finally, ValuEngine downgraded Limoneira from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.20.

NASDAQ LMNR opened at $19.97 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.38. Limoneira has a 52 week low of $18.07 and a 52 week high of $33.42. The stock has a market capitalization of $407.17 million, a PE ratio of 39.94, a P/E/G ratio of 1.98 and a beta of 0.96.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). Limoneira had a return on equity of 3.73% and a net margin of 4.91%. The company had revenue of $42.02 million during the quarter, compared to the consensus estimate of $44.74 million. On average, equities analysts predict that Limoneira will post 0.77 EPS for the current fiscal year.

In other Limoneira news, Director John W.H. Merriman sold 1,811 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $24.09, for a total transaction of $43,626.99. Following the completion of the transaction, the director now owns 2,011 shares in the company, valued at approximately $48,444.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $39,227.85. Following the transaction, the chief financial officer now owns 49,698 shares of the company’s stock, valued at approximately $1,210,146.30. The disclosure for this sale can be found here. Insiders have sold a total of 6,172 shares of company stock valued at $148,825 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in LMNR. Bank of New York Mellon Corp raised its position in shares of Limoneira by 6.4% in the third quarter. Bank of New York Mellon Corp now owns 81,050 shares of the company’s stock valued at $2,116,000 after purchasing an additional 4,896 shares during the period. BlackRock Inc. raised its position in shares of Limoneira by 71.9% in the third quarter. BlackRock Inc. now owns 1,208,848 shares of the company’s stock valued at $31,564,000 after purchasing an additional 505,647 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Limoneira by 56.8% in the third quarter. Dimensional Fund Advisors LP now owns 481,396 shares of the company’s stock valued at $12,569,000 after acquiring an additional 174,382 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Limoneira by 14,004.0% in the third quarter. JPMorgan Chase & Co. now owns 350,344 shares of the company’s stock valued at $9,148,000 after acquiring an additional 347,860 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Limoneira by 22.1% in the third quarter. Renaissance Technologies LLC now owns 79,600 shares of the company’s stock valued at $2,078,000 after acquiring an additional 14,400 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Limoneira Company Profile

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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