Limoneira (NASDAQ:LMNR) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Limoneira from “strong sell” to “sell,” while analysts overall maintain a consensus “Hold” rating with an $18.00 target price.
• LMNR opened at $14.99, within its 12-month range of $11.66 to $16.44, and has a market capitalization of approximately $271.8 million.
• Limoneira’s latest quarterly results missed earnings expectations, reporting a loss of $0.29 per share versus the expected loss of $0.21, despite revenue of $23.93 million exceeding estimates.

Limoneira (NASDAQ:LMNR - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts also recently weighed in on LMNR. HC Wainwright downgraded Limoneira to a "buy" rating in a research note on Wednesday, June 10th. Weiss Ratings restated a "sell (d)" rating on shares of Limoneira in a research note on Wednesday, June 24th. Finally, Lake Street Capital decreased their target price on Limoneira from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, June 10th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Limoneira has a consensus rating of "Hold" and a consensus target price of $18.00.

Limoneira Trading Down 0.1%

NASDAQ:LMNR opened at $14.99 on Friday. Limoneira has a 12 month low of $11.66 and a 12 month high of $16.44. The firm has a fifty day simple moving average of $13.64 and a 200-day simple moving average of $13.35. The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $271.80 million, a P/E ratio of -6.57 and a beta of 0.32.

Limoneira (NASDAQ:LMNR - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.08). The company had revenue of $23.93 million for the quarter, compared to analysts' expectations of $21.42 million. Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%. On average, equities research analysts anticipate that Limoneira will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Limoneira

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in Limoneira by 64.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company's stock worth $27,000 after purchasing an additional 668 shares during the period. Trust Co. of Vermont acquired a new position in shares of Limoneira in the 2nd quarter valued at about $33,000. California State Teachers Retirement System lifted its holdings in shares of Limoneira by 236.3% in the 2nd quarter. California State Teachers Retirement System now owns 3,033 shares of the company's stock valued at $40,000 after buying an additional 2,131 shares during the period. Leonteq Securities AG boosted its stake in shares of Limoneira by 88.8% in the first quarter. Leonteq Securities AG now owns 3,386 shares of the company's stock worth $45,000 after buying an additional 1,593 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Limoneira by 45.0% in the fourth quarter. MetLife Investment Management LLC now owns 9,765 shares of the company's stock worth $123,000 after buying an additional 3,029 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

Limoneira Company Profile

Limoneira Company NASDAQ: LMNR, founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company's vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.

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