LMNR - Limoneira Stock: The Citrus King Further Moving Into The Avocado Empire
2024-03-25 14:24:04 ET
Summary
- Limoneira Company stock has returned 50% since our last buy call in September, and it is recommended to hold the stock for long-term growth with house money.
- The company has improved its balance sheet and shifted to an asset-light model, but its valuation is expensive.
- Despite lower volume, the company's citrus sales have remained strong, and investments are being made for future avocado revenues.
Limoneira Company ( LMNR ) is a diversified citrus growing, packing, selling, and marketing company with related agribusiness activities and real estate development operations. We have traded this stock previously in our service and publicly. The "Citrus King," as we call it, returned 50% since our last buy call from September when we pegged it for another trade. We suggested closing out the trade in December at $20.64, and suggested leaving a little profit in the name for a long-term house position to capture any and all future growth, spinoffs, dividends, etc....
Limoneira Stock: The Citrus King Further Moving Into The Avocado Empire