Limoneira (NASDAQ:LMNR) Rating Lowered to “Strong Sell” at Zacks Research

by · The Markets Daily

Limoneira (NASDAQ:LMNR – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.

LMNR has been the subject of a number of other reports. Lake Street Capital cut their price objective on Limoneira from $18.00 to $16.50 and set a “buy” rating for the company in a research report on Thursday, September 10th. Weiss Ratings upgraded Limoneira from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Finally, Wall Street Zen upgraded Limoneira from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.50.

Get Our Latest Stock Report on Limoneira

Limoneira Trading Down 0.9%

NASDAQ LMNR opened at $12.06 on Monday. Limoneira has a 52 week low of $11.55 and a 52 week high of $15.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.51. The stock’s 50 day moving average price is $13.27 and its two-hundred day moving average price is $13.13. The stock has a market capitalization of $218.65 million, a price-to-earnings ratio of -5.05 and a beta of 0.34.

Limoneira (NASDAQ:LMNR – Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.17). The business had revenue of $43.81 million during the quarter, compared to the consensus estimate 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 anticipate that Limoneira will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LMNR. Trust Co. of Vermont acquired a new position in Limoneira during the 2nd quarter worth about $33,000. Leonteq Securities AG grew its stake in shares of 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 buying an additional 1,593 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Limoneira during the second quarter valued at approximately $139,000. Everett Harris & Co. CA acquired a new position in Limoneira during the second quarter worth $155,000. Finally, Bank of America Corp DE bought a new stake in shares of Limoneira during the second quarter worth about $166,000. Institutional investors own 64.35% of the company’s stock.

Limoneira Company Profile

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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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