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

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 $22.63 and traded as high as $25.94. Limoneira shares last traded at $25.75, with a volume of 31,058 shares changing hands.

Analyst Ratings Changes

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

Limoneira Price Performance

The firm has a 50-day moving average price of $26.22 and a 200 day moving average price of $22.68. The stock has a market capitalization of $491.01 million, a P/E ratio of 91.10 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93.

Limoneira (NASDAQ:LMNR - Get Free Report) last released 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 firm had revenue of $63.31 million for the quarter, compared to the consensus estimate of $63.85 million. On average, analysts expect that Limoneira will post 0.4 EPS for the current year.

Limoneira Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, October 7th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, October 7th. Limoneira's payout ratio is 103.45%.

Institutional Trading of Limoneira

A number of institutional investors have recently modified their holdings of the company. Riverwater Partners LLC raised its position in Limoneira by 47.3% during the 3rd quarter. Riverwater Partners LLC now owns 200,423 shares of the company's stock valued at $5,245,000 after purchasing an additional 64,392 shares during the last quarter. Gabelli Funds LLC lifted its stake in Limoneira by 24.0% in the first quarter. Gabelli Funds LLC now owns 120,300 shares of the company's stock worth $2,353,000 after acquiring an additional 23,300 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in Limoneira by 0.7% in the first quarter. Global Alpha Capital Management Ltd. now owns 3,006,940 shares of the company's stock worth $58,816,000 after acquiring an additional 20,000 shares during the period. Inspire Investing LLC purchased a new position in Limoneira during the 3rd quarter valued at $415,000. Finally, Vanguard Group Inc. raised its holdings in Limoneira by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 927,965 shares of the company's stock worth $18,151,000 after purchasing an additional 14,572 shares in the last quarter. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

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.