Limoneira (NASDAQ:LMNR) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Limoneira (NASDAQ:LMNR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.95 and traded as high as $27.64. Limoneira shares last traded at $26.84, with a volume of 29,406 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Lake Street Capital reissued a “hold” rating and set a $25.00 price objective on shares of Limoneira in a research note on Tuesday, September 10th. B. Riley increased their target price on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, StockNews.com upgraded shares of Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Limoneira Stock Performance

The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $27.08 and a 200-day moving average of $24.00. The company has a market cap of $487.71 million, a P/E ratio of 93.17 and a beta of 0.49.

Limoneira Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, October 7th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, October 7th. Limoneira’s payout ratio is 103.45%.

Hedge Funds Weigh In On Limoneira

A number of large investors have recently bought and sold shares of LMNR. Barclays PLC boosted its stake in Limoneira by 269.7% in the third quarter. Barclays PLC now owns 21,708 shares of the company’s stock valued at $575,000 after acquiring an additional 15,836 shares in the last quarter. State Street Corp increased its position in Limoneira by 3.7% during the 3rd quarter. State Street Corp now owns 311,388 shares of the company’s stock valued at $8,252,000 after buying an additional 11,003 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in Limoneira in the third quarter valued at about $255,000. De Lisle Partners LLP acquired a new stake in Limoneira in the third quarter worth about $269,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Limoneira by 14.3% during the third quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock worth $92,000 after acquiring an additional 436 shares during the last quarter. Institutional investors 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.