B. Riley Raises Limoneira (NASDAQ:LMNR) Price Target to $28.00

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

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

Limoneira Stock 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. 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 firm’s 50 day moving average price is $21.88 and its 200-day moving average price is $20.45. Limoneira has a one year low of $13.88 and a one year high of $25.89.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.20 by $0.20. Limoneira had a positive return on equity of 0.67% and a negative net margin of 0.92%. The business had revenue of $44.61 million during the quarter, compared to analyst estimates of $54.62 million. As a group, equities research analysts predict that Limoneira will post 0.22 EPS for the current year.

Limoneira Announces Dividend

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

Institutional Trading of Limoneira

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its stake in Limoneira by 17.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 32,215 shares of the company’s stock worth $665,000 after purchasing an additional 4,879 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Limoneira during the fourth quarter worth about $633,000. Gabelli Funds LLC increased its stake in shares of Limoneira by 34.3% during the fourth quarter. Gabelli Funds LLC now owns 97,000 shares of the company’s stock worth $2,001,000 after buying an additional 24,800 shares during the period. Bulldog Investors LLP acquired a new stake in Limoneira in the fourth quarter valued at approximately $413,000. Finally, Baker Ellis Asset Management LLC lifted its stake in Limoneira by 46.9% in the first quarter. Baker Ellis Asset Management LLC now owns 29,900 shares of the company’s stock worth $585,000 after acquiring an additional 9,550 shares during the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Company Profile

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.