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

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 analysts at Zacks Research to a "hold" rating in a research report issued on Tuesday, August 12th,Zacks.com reports.

Separately, Lake Street Capital upgraded shares of 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. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

Limoneira Trading Up 0.0%

NASDAQ:LMNR traded up $0.0050 during trading hours on Tuesday, hitting $15.7150. 7,016 shares of the company were exchanged, compared to its average volume of 69,905. Limoneira has a one year low of $14.40 and a one year high of $29.22. The company has a current ratio of 1.05, a quick ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $283.97 million, a price-to-earnings ratio of -112.24 and a beta of 0.46. The company has a fifty day simple moving average of $15.44 and a 200 day simple moving average of $17.21.

Limoneira (NASDAQ:LMNR - Get Free Report) last posted its quarterly earnings data on Monday, June 9th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.16). The company had revenue of $35.12 million during the quarter, compared to analyst estimates of $38.70 million. Limoneira had a negative return on equity of 0.90% and a negative net margin of 0.96%.During the same period in the prior year, the firm earned $0.44 earnings per share.

Institutional Investors Weigh In On Limoneira

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its holdings in shares of Limoneira by 64.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company's stock worth $27,000 after acquiring an additional 668 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Limoneira by 1,423.4% in 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 during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Limoneira by 3,345.9% in 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 during the last quarter. Byrne Asset Management LLC lifted its holdings in shares of Limoneira by 168.7% in the first quarter. Byrne Asset Management LLC now owns 3,869 shares of the company's stock valued at $69,000 after purchasing an additional 2,429 shares in the last quarter. Finally, Caption Management LLC purchased a new position in shares of Limoneira during the first quarter valued at approximately $123,000. 64.35% of the stock is owned by institutional investors.

About Limoneira

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.