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

Limoneira (NASDAQ:LMNR)’s share price crossed 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 traded.

Wall Street Analysts Forecast Growth

LMNR has been the subject of several research reports. Lake Street Capital reissued a “hold” rating and issued a $25.00 price objective on shares of Limoneira in a research report on Tuesday, September 10th. B. Riley increased their price objective on Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, StockNews.com raised Limoneira from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Limoneira has an average rating of “Moderate Buy” and an average price target of $25.33.

Limoneira Stock Performance

The stock has a market capitalization of $495.30 million, a P/E ratio of -211.54, a PEG ratio of 6.57 and a beta of 0.48. The firm has a 50-day moving average of $24.58 and a 200 day moving average of $21.90. 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 issued its earnings results on Monday, September 9th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $63.31 million during the quarter, compared to analysts’ expectations of $63.85 million. Limoneira had a return on equity of 3.97% and a net margin of 3.24%. Research analysts anticipate that Limoneira will post 0.28 EPS for the current fiscal year.

Limoneira Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Monday, October 7th will be given a $0.075 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.30 annualized dividend and a yield of 1.09%. Limoneira’s dividend payout ratio (DPR) is currently -230.77%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd raised its stake in Limoneira by 48.9% during 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 in the last quarter. SG Americas Securities LLC acquired a new position in Limoneira during the third quarter worth $153,000. BNP Paribas Financial Markets raised its stake in Limoneira by 60.8% during the first quarter. BNP Paribas Financial Markets now owns 8,461 shares of the company’s stock worth $165,000 after acquiring an additional 3,199 shares in the last quarter. Inspire Investing LLC acquired a new position in Limoneira during the third quarter worth $415,000. Finally, American Century Companies Inc. raised its stake in Limoneira by 32.9% during the second quarter. American Century Companies Inc. now owns 22,198 shares of the company’s stock worth $462,000 after acquiring an additional 5,498 shares in the last quarter. 64.35% of the stock is owned by 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.