StockNews.com Downgrades Limoneira (NASDAQ:LMNR) to Sell

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

LMNR has been the topic of several other research reports. Lake Street Capital restated a “hold” rating and set a $25.00 target price on shares of Limoneira in a report on Tuesday, September 10th. B. Riley boosted their price objective on Limoneira from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.33.

Limoneira Trading Down 7.0 %

NASDAQ LMNR traded down $1.88 during mid-day trading on Wednesday, hitting $24.95. The company’s stock had a trading volume of 179,592 shares, compared to its average volume of 46,275. The firm has a market capitalization of $450.35 million, a P/E ratio of 86.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.93 and a quick ratio of 0.84. Limoneira has a 52-week low of $17.37 and a 52-week high of $29.22. The stock’s fifty day simple moving average is $26.89 and its two-hundred day simple moving average is $24.34.

Hedge Funds Weigh In On Limoneira

A number of institutional investors have recently added to or reduced their stakes in LMNR. Barclays PLC grew its holdings in Limoneira by 269.7% during the 3rd quarter. Barclays PLC now owns 21,708 shares of the company’s stock worth $575,000 after acquiring an additional 15,836 shares in the last quarter. State Street Corp increased its holdings in Limoneira by 3.7% in the third 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 during the last quarter. PEAK6 Investments LLC acquired a new stake in Limoneira during the third quarter valued at approximately $255,000. De Lisle Partners LLP bought a new position in Limoneira during the 3rd quarter worth approximately $269,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Limoneira by 14.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,486 shares of the company’s stock valued at $92,000 after acquiring an additional 436 shares during the last quarter. 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.