Limoneira (NASDAQ:LMNR) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Limoneira (NASDAQ:LMNR)’s share 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Lake Street Capital restated a “hold” rating and set a $25.00 price objective on shares of Limoneira in a research report on Tuesday, September 10th. StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, B. Riley upped their target price on Limoneira from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Two 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, Limoneira has an average rating of “Moderate Buy” and an average price target of $25.33.

Limoneira Trading Up 1.4 %

The stock has a 50-day moving average of $26.67 and a 200 day moving average of $23.07. The stock has a market cap of $476.34 million, a PE ratio of 89.76 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.21.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings results on Monday, September 9th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $63.31 million for the quarter, compared to analyst estimates of $63.85 million. Limoneira had a net margin of 3.24% and a return on equity of 3.97%. As a group, sell-side analysts anticipate that Limoneira will post 0.4 earnings per share for the current year.

Limoneira Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Monday, October 7th were paid a dividend of $0.075 per share. The ex-dividend date was Monday, October 7th. This represents a $0.30 annualized dividend and a yield of 1.14%. Limoneira’s dividend payout ratio (DPR) is currently 103.45%.

Hedge Funds Weigh In On Limoneira

Several hedge funds and other institutional investors have recently modified their holdings of LMNR. Global Alpha Capital Management Ltd. grew its position in shares of Limoneira by 3.0% in the third quarter. Global Alpha Capital Management Ltd. now owns 3,299,703 shares of the company’s stock valued at $87,442,000 after purchasing an additional 96,054 shares in the last quarter. Riverwater Partners LLC raised its holdings in shares of Limoneira by 47.3% during the 3rd quarter. Riverwater Partners LLC now owns 200,423 shares of the company’s stock worth $5,245,000 after acquiring an additional 64,392 shares during the period. Gabelli Funds LLC boosted its position in shares of Limoneira by 24.0% during the 1st quarter. Gabelli Funds LLC now owns 120,300 shares of the company’s stock valued at $2,353,000 after acquiring an additional 23,300 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Limoneira in the third quarter valued at about $415,000. Finally, Vanguard Group Inc. increased its position in Limoneira by 1.6% during the first 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 during 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.