Limoneira (NASDAQ:LMNR) Given New $28.00 Price Target at B. Riley

Limoneira (NASDAQ:LMNR) had its price objective boosted by B. Riley from $24.00 to $28.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Lake Street Capital lifted their target price on shares of Limoneira from $23.00 to $25.00 and gave the company a buy rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Limoneira presently has a consensus rating of Moderate Buy and an average price target of $25.33.

Limoneira Price Performance

Shares of LMNR stock opened at $24.93 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 0.93. Limoneira has a fifty-two week low of $13.88 and a fifty-two week high of $25.89. The firm has a market cap of $449.01 million, a P/E ratio of -191.77, a P/E/G ratio of 7.60 and a beta of 0.48. The business’s 50 day moving average price is $21.88 and its 200-day moving average price is $20.47.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.20. Limoneira had a negative net margin of 0.92% and a positive return on equity of 0.67%. The business had revenue of $44.61 million for the quarter, compared to analysts’ expectations of $54.62 million. On average, equities research analysts anticipate that Limoneira will post 0.22 earnings per share for the current year.

Limoneira Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Monday, July 8th were issued a $0.075 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.30 dividend on an annualized basis and a yield of 1.20%. Limoneira’s dividend payout ratio (DPR) is -230.77%.

Institutional Trading of Limoneira

A number of hedge funds have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC purchased a new position in Limoneira during the 4th quarter valued at about $633,000. Riverwater Partners LLC increased its stake in shares of Limoneira by 26.4% during the first quarter. Riverwater Partners LLC now owns 139,946 shares of the company’s stock valued at $2,737,000 after purchasing an additional 29,187 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Limoneira by 34.3% during the fourth quarter. Gabelli Funds LLC now owns 97,000 shares of the company’s stock valued at $2,001,000 after purchasing an additional 24,800 shares during the last quarter. Bulldog Investors LLP bought a new stake in shares of Limoneira in the 4th quarter worth approximately $413,000. Finally, Global Alpha Capital Management Ltd. grew its stake in shares of Limoneira by 0.7% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 3,006,940 shares of the company’s stock worth $58,816,000 after buying an additional 20,000 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.