Limoneira (NASDAQ:LMNR) Upgraded to “Sell” at StockNews.com

Limoneira (NASDAQ:LMNR) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research note issued on Wednesday.

Separately, Lake Street Capital cut their price target on Limoneira from $25.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, March 13th.

Limoneira Stock Performance

LMNR stock traded up $0.88 during trading on Wednesday, hitting $16.69. The company had a trading volume of 91,063 shares, compared to its average volume of 53,224. The firm has a 50-day moving average price of $20.25 and a 200-day moving average price of $23.95. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The firm has a market cap of $301.17 million, a PE ratio of 43.92 and a beta of 0.38. Limoneira has a 1-year low of $15.54 and a 1-year high of $29.22.

Limoneira declared that its board has initiated a stock buyback program on Monday, March 17th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Limoneira

Several hedge funds have recently modified their holdings of LMNR. GAMMA Investing LLC raised its position in 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 acquiring an additional 1,523 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Limoneira by 3,345.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $62,000 after purchasing an additional 2,476 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Limoneira by 77.5% in the fourth quarter. Van ECK Associates Corp now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,127 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Limoneira by 14.3% in the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock valued at $92,000 after purchasing an additional 436 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Limoneira by 20.1% during the fourth quarter. SG Americas Securities LLC now owns 6,924 shares of the company’s stock worth $169,000 after buying an additional 1,160 shares in the last quarter. 64.35% of the stock is owned by institutional investors and hedge funds.

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.