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 to investors on Tuesday,Zacks.com reports.

Several other brokerages have also commented on LMNR. Roth Capital reiterated a "buy" rating on shares of Limoneira in a research note on Monday, September 15th. Lake Street Capital raised shares of Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research report on Tuesday, June 10th. Finally, Stephens began coverage on shares of Limoneira in a research report on Friday, September 12th. They set an "equal weight" rating and a $18.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $20.50.

Limoneira Stock Down 1.8%

Shares of LMNR traded down $0.28 during midday trading on Tuesday, reaching $15.09. The stock had a trading volume of 90,200 shares, compared to its average volume of 53,353. The company's fifty day simple moving average is $15.47 and its two-hundred day simple moving average is $16.09. Limoneira has a 1-year low of $14.40 and a 1-year high of $29.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.66. The company has a market cap of $272.37 million, a price-to-earnings ratio of -27.44 and a beta of 0.44.

Hedge Funds Weigh In On Limoneira

A number of institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its position in shares of Limoneira by 52.8% in the second quarter. Squarepoint Ops LLC now owns 52,108 shares of the company's stock valued at $815,000 after buying an additional 18,005 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Limoneira by 64.8% in the second 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 period. Jane Street Group LLC grew its holdings in Limoneira by 68.8% in the second quarter. Jane Street Group LLC now owns 31,879 shares of the company's stock valued at $499,000 after purchasing an additional 12,989 shares during the period. Qube Research & Technologies Ltd grew its holdings in Limoneira by 515.4% in the second quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company's stock valued at $1,160,000 after purchasing an additional 62,080 shares during the period. Finally, Gabelli Funds LLC grew its holdings in Limoneira by 4.2% in the second quarter. Gabelli Funds LLC now owns 128,000 shares of the company's stock valued at $2,003,000 after purchasing an additional 5,200 shares during the period. Institutional investors and hedge funds own 64.35% of the company's stock.

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.