Limoneira (NASDAQ:LMNR) Downgraded to Sell at StockNews.com

Limoneira (NASDAQ:LMNR) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

LMNR has been the topic of a number of other research reports. TheStreet downgraded Limoneira from a “b-” rating to a “c+” rating in a research report on Tuesday, January 30th. Roth Mkm lifted their target price on Limoneira from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd.

Limoneira Stock Performance

Shares of Limoneira stock opened at $19.85 on Friday. The firm has a market cap of $357.40 million, a price-to-earnings ratio of -34.22, a price-to-earnings-growth ratio of 10.18 and a beta of 0.55. The stock’s 50-day moving average is $18.99 and its 200-day moving average is $17.85. Limoneira has a one year low of $13.88 and a one year high of $21.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.84.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The company had revenue of $39.73 million for the quarter, compared to analyst estimates of $39.07 million. Limoneira had a negative return on equity of 1.16% and a negative net margin of 5.40%. During the same period in the previous year, the company posted ($0.53) earnings per share. Equities analysts predict that Limoneira will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Limoneira

A number of institutional investors have recently bought and sold shares of LMNR. Bfsg LLC acquired a new position in Limoneira during the fourth quarter worth approximately $36,000. Allspring Global Investments Holdings LLC acquired a new position in Limoneira during the third quarter worth approximately $64,000. SG Americas Securities LLC acquired a new position in Limoneira during the third quarter worth approximately $117,000. Bulldog Investors LLP acquired a new position in Limoneira during the fourth quarter worth approximately $413,000. Finally, Janney Montgomery Scott LLC acquired a new position in Limoneira during the third quarter worth approximately $419,000. 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.