Limoneira (NASDAQ:LMNR) Coverage Initiated at Stephens

Key Points

• Stephens has initiated coverage on Limoneira (NASDAQ:LMNR), setting an "equal weight" rating with a price target of $18.00, indicating a potential upside of 16.20% from the previous closing price.
• Limoneira reported negative earnings of ($0.17) per share for the last quarter, which was a miss compared to analysts’ estimates of ($0.01).
• Recent hedge fund activity shows an increase in interest, with firms like Squarepoint Ops LLC and BNP Paribas Financial Markets significantly boosting their stakes in Limoneira during the second quarter.

Stephens started coverage on shares of Limoneira (NASDAQ:LMNR - Get Free Report) in a research note issued to investors on Friday. The brokerage set an "equal weight" rating and a $18.00 price target on the stock. Stephens' price target suggests a potential upside of 16.20% from the stock's previous close.

LMNR has been the subject of a number of other reports. Lake Street Capital raised Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a research report on Tuesday, June 10th. Zacks Research raised Limoneira to a "hold" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $20.50.

Limoneira Stock Up 4.0%

Limoneira stock opened at $15.49 on Friday. Limoneira has a twelve month low of $14.40 and a twelve month high of $29.22. The stock has a 50 day moving average of $15.54 and a two-hundred day moving average of $16.42. The company has a current ratio of 1.80, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $279.59 million, a price-to-earnings ratio of -28.16 and a beta of 0.44.

Limoneira (NASDAQ:LMNR - Get Free Report) last posted its quarterly earnings data on Monday, June 9th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.16). Limoneira had a negative return on equity of 5.01% and a negative net margin of 5.69%.The company had revenue of $35.12 million for the quarter, compared to analyst estimates of $38.70 million. During the same period in the previous year, the business posted $0.44 earnings per share.

Hedge Funds Weigh In On Limoneira

Hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC boosted its holdings in shares of Limoneira by 52.8% during the second quarter. Squarepoint Ops LLC now owns 52,108 shares of the company's stock worth $815,000 after purchasing an additional 18,005 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Limoneira by 64.8% during the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company's stock worth $27,000 after purchasing an additional 668 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Limoneira by 68.8% during the second quarter. Jane Street Group LLC now owns 31,879 shares of the company's stock worth $499,000 after purchasing an additional 12,989 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Limoneira by 515.4% during the second quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company's stock worth $1,160,000 after purchasing an additional 62,080 shares in the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Limoneira by 4.2% during the second quarter. Gabelli Funds LLC now owns 128,000 shares of the company's stock worth $2,003,000 after acquiring an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 64.35% of the company's stock.

Limoneira Company Profile

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.

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