Limoneira (NASDAQ:LMNR) Sets New 1-Year High - Should You Buy?

Limoneira (NASDAQ:LMNR - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $28.06 and last traded at $28.05, with a volume of 9953 shares changing hands. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

LMNR has been the topic of a number of research reports. Lake Street Capital restated a "hold" rating and issued a $25.00 price objective on shares of Limoneira in a report on Tuesday, September 10th. B. Riley increased their price target on shares of Limoneira from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Finally, StockNews.com upgraded shares of Limoneira from a "sell" rating to a "hold" rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.33.

Limoneira Trading Down 0.4 %

The stock has a market capitalization of $493.50 million, a price-to-earnings ratio of -210.77, a price-to-earnings-growth ratio of 6.57 and a beta of 0.48. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $24.72 and a two-hundred day moving average of $21.96.

Limoneira (NASDAQ:LMNR - Get Free Report) last issued its quarterly earnings data on Monday, September 9th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Limoneira had a net margin of 3.24% and a return on equity of 3.97%. The business had revenue of $63.31 million during the quarter, compared to analysts' expectations of $63.85 million. On average, research analysts expect that Limoneira will post 0.28 EPS for the current year.

Limoneira Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Monday, October 7th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, October 7th. Limoneira's dividend payout ratio (DPR) is -230.77%.

Hedge Funds Weigh In On Limoneira

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in Limoneira by 7.4% in the 2nd quarter. Rhumbline Advisers now owns 22,708 shares of the company's stock valued at $473,000 after buying an additional 1,565 shares during the last quarter. Covestor Ltd grew its stake in shares of Limoneira by 48.9% in the first quarter. Covestor Ltd now owns 5,764 shares of the company's stock worth $113,000 after acquiring an additional 1,893 shares during the last quarter. Bank of New York Mellon Corp increased its position in Limoneira by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 129,738 shares of the company's stock worth $2,700,000 after acquiring an additional 1,934 shares during the period. Janney Montgomery Scott LLC raised its stake in Limoneira by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 35,138 shares of the company's stock valued at $687,000 after purchasing an additional 2,923 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in Limoneira by 2.5% during the 2nd quarter. Gabelli Funds LLC now owns 123,300 shares of the company's stock valued at $2,566,000 after purchasing an additional 3,000 shares during the last quarter. 64.35% of the stock is currently owned by 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.