Limoneira (NASDAQ:LMNR) Stock Passes Above 200-Day Moving Average - Here's Why

Limoneira (NASDAQ:LMNR - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.90 and traded as high as $27.55. Limoneira shares last traded at $27.50, with a volume of 26,029 shares changing hands.

Analysts Set New Price Targets

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

Limoneira Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.93 and a quick ratio of 0.84. The stock has a market capitalization of $493.50 million, a PE ratio of -211.54, a PEG ratio of 6.57 and a beta of 0.48. The company has a 50 day moving average price of $24.58 and a 200-day moving average price of $21.90.

Limoneira (NASDAQ:LMNR - Get Free Report) last issued its quarterly earnings data on Monday, September 9th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $63.85 million. As a group, analysts forecast that Limoneira will post 0.28 earnings per share for the current fiscal year.

Limoneira Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, October 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.09%. Limoneira's dividend payout ratio (DPR) is -230.77%.

Institutional Trading of Limoneira

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd boosted its stake in Limoneira by 48.9% in the 1st quarter. Covestor Ltd now owns 5,764 shares of the company's stock worth $113,000 after purchasing an additional 1,893 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Limoneira during the third quarter valued at $153,000. BNP Paribas Financial Markets lifted its stake in shares of Limoneira by 60.8% in the 1st quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company's stock worth $165,000 after purchasing an additional 3,199 shares during the period. Inspire Investing LLC purchased a new position in shares of Limoneira during the 3rd quarter worth $415,000. Finally, American Century Companies Inc. lifted its position in Limoneira by 32.9% during the second quarter. American Century Companies Inc. now owns 22,198 shares of the company's stock valued at $462,000 after purchasing an additional 5,498 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.