Limoneira (NASDAQ:LMNR) Cut to Strong Sell at Zacks Research

Key Points

• Limoneira's stock rating has been downgraded by Zacks Research from "hold" to "strong sell".
• The average consensus price target for Limoneira is currently $20.50, with mixed ratings from various analysts.
• Shares of Limoneira were priced at $15.00 at the time of the report, marking a decrease of 0.2% on the opening day.

Limoneira (NASDAQ:LMNR - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on LMNR. Lake Street Capital raised Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a report on Tuesday, June 10th. Stephens began coverage on Limoneira in a report on Friday, September 12th. They set an "equal weight" rating and a $18.00 price target for the company. Finally, Roth Capital reaffirmed a "buy" rating on shares of Limoneira in a report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Limoneira currently has an average rating of "Hold" and an average price target of $20.50.

Limoneira Stock Down 0.5%

NASDAQ:LMNR traded down $0.08 during midday trading on Tuesday, reaching $15.01. The company had a trading volume of 66,241 shares, compared to its average volume of 55,078. The firm has a market capitalization of $270.93 million, a price-to-earnings ratio of -27.29 and a beta of 0.44. The stock's fifty day simple moving average is $15.46 and its 200-day simple moving average is $16.00. Limoneira has a 12-month low of $14.40 and a 12-month high of $29.22. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 0.35.

Institutional Trading of Limoneira

Several institutional investors and hedge funds have recently made changes to their positions in LMNR. BNP Paribas Financial Markets lifted 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 valued at $27,000 after purchasing an additional 668 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Limoneira by 1,423.4% in the 1st quarter. GAMMA Investing LLC now owns 1,630 shares of the company's stock valued at $29,000 after purchasing an additional 1,523 shares during the last quarter. Byrne Asset Management LLC lifted its holdings in shares of Limoneira by 168.7% in the 1st 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 during the last quarter. Caption Management LLC purchased a new stake in shares of Limoneira in the 1st quarter valued at about $123,000. Finally, Walleye Capital LLC acquired a new position in Limoneira in the 2nd quarter valued at about $220,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

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.