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

Limoneira (NASDAQ:LMNR - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.05 and traded as high as $27.72. Limoneira shares last traded at $26.98, with a volume of 36,727 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LMNR. StockNews.com raised Limoneira from a "sell" rating to a "hold" rating in a research note on Wednesday, September 11th. Lake Street Capital reiterated a "hold" rating and set a $25.00 target price on shares of Limoneira in a research note on Tuesday, September 10th. Finally, B. Riley upped their price target on Limoneira from $24.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Limoneira presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.33.

Limoneira Price Performance

The business's 50-day moving average price is $26.65 and its 200 day moving average price is $23.05. 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 company has a market capitalization of $469.84 million, a P/E ratio of 89.93 and a beta of 0.48.

Limoneira (NASDAQ:LMNR - Get Free Report) last issued its quarterly earnings data on Monday, September 9th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Limoneira had a return on equity of 3.97% and a net margin of 3.24%. The company had revenue of $63.31 million during the quarter, compared to analyst estimates of $63.85 million. Analysts anticipate that Limoneira will post 0.4 EPS for the current fiscal year.

Limoneira Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Monday, October 7th were issued a dividend of $0.075 per share. The ex-dividend date was Monday, October 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.15%. Limoneira's dividend payout ratio is currently 103.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LMNR. Global Alpha Capital Management Ltd. raised its position in Limoneira by 3.0% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,299,703 shares of the company's stock worth $87,442,000 after acquiring an additional 96,054 shares during the period. Vanguard Group Inc. grew its holdings in Limoneira by 1.6% during the first quarter. Vanguard Group Inc. now owns 927,965 shares of the company's stock valued at $18,151,000 after purchasing an additional 14,572 shares during the period. Gamco Investors INC. ET AL increased its position in Limoneira by 3.5% in the first quarter. Gamco Investors INC. ET AL now owns 211,403 shares of the company's stock worth $4,135,000 after buying an additional 7,103 shares in the last quarter. Riverwater Partners LLC raised its stake in shares of Limoneira by 47.3% in the third quarter. Riverwater Partners LLC now owns 200,423 shares of the company's stock worth $5,245,000 after buying an additional 64,392 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Limoneira by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company's stock valued at $2,700,000 after buying an additional 1,934 shares in the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.

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.