Limoneira (NASDAQ:LMNR) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Limoneira has received an upgrade from Zacks Research to a "hold" rating, while Lake Street Capital has upgraded it from "hold" to "buy" with a price target of $23.00.
• The company reported a loss of ($0.17)** earnings per share for the last quarter, missing expectations significantly, and generated revenues of $35.12 million, below analyst estimates.
• Institutional investors are actively increasing their positions in Limoneira, with notable increases from firms like GAMMA Investing LLC and Tower Research Capital LLC, indicating growing interest in the stock.

Limoneira (NASDAQ:LMNR - Get Free Report) was upgraded by equities research analysts at Zacks Research to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Lake Street Capital raised shares of Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a research report on Tuesday, June 10th.

Limoneira Price Performance

LMNR opened at $15.82 on Tuesday. The stock has a market capitalization of $285.87 million, a PE ratio of -112.99 and a beta of 0.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.94 and a current ratio of 1.05. Limoneira has a 1 year low of $14.40 and a 1 year high of $29.22. The company's 50 day simple moving average is $15.47 and its 200 day simple moving average is $17.40.

Limoneira (NASDAQ:LMNR - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $35.12 million for the quarter, compared to analyst estimates of $38.70 million. Limoneira had a negative net margin of 0.96% and a negative return on equity of 0.90%. During the same period last year, the firm earned $0.44 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Limoneira by 1,423.4% during the first quarter. GAMMA Investing LLC now owns 1,630 shares of the company's stock worth $29,000 after purchasing an additional 1,523 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Limoneira by 3,345.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company's stock worth $62,000 after purchasing an additional 2,476 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of Limoneira by 168.7% during the first quarter. Byrne Asset Management LLC now owns 3,869 shares of the company's stock worth $69,000 after purchasing an additional 2,429 shares in the last quarter. Caption Management LLC bought a new stake in shares of Limoneira in the first quarter worth $123,000. Finally, Deutsche Bank AG increased its stake in shares of Limoneira by 29.3% in the fourth quarter. Deutsche Bank AG now owns 13,380 shares of the company's stock worth $327,000 after buying an additional 3,033 shares during the last quarter. 64.35% of the stock is owned by institutional investors and hedge funds.

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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