Alico (NASDAQ:ALCO) Rating Increased to Hold at Wall Street Zen

Alico (NASDAQ:ALCO) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts also recently commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a research note on Wednesday, January 21st. Roth Mkm reissued a “buy” rating and issued a $42.00 target price on shares of Alico in a research report on Wednesday, November 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.00.

Alico Price Performance

ALCO stock opened at $38.51 on Friday. The stock’s 50 day moving average is $39.88 and its two-hundred day moving average is $36.43. Alico has a 52-week low of $27.61 and a 52-week high of $43.20. The company has a market capitalization of $294.87 million, a PE ratio of -2.08 and a beta of 1.02. The company has a quick ratio of 13.02, a current ratio of 14.39 and a debt-to-equity ratio of 0.82.

Alico (NASDAQ:ALCO) last released its earnings results on Wednesday, February 4th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.92). Alico had a negative net margin of 487.45% and a negative return on equity of 101.66%. The business had revenue of $1.89 million for the quarter, compared to analysts’ expectations of $3.22 million. Analysts predict that Alico will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alico

Large investors have recently added to or reduced their stakes in the company. Gate City Capital Management LLC boosted its holdings in Alico by 28.2% in the second quarter. Gate City Capital Management LLC now owns 1,126,553 shares of the company’s stock worth $36,816,000 after purchasing an additional 248,136 shares during the period. Accordant Advisory Group Inc raised its holdings in shares of Alico by 39.4% during the fourth quarter. Accordant Advisory Group Inc now owns 94,411 shares of the company’s stock worth $3,435,000 after purchasing an additional 26,688 shares during the period. Squarepoint Ops LLC bought a new position in shares of Alico in the 4th quarter worth about $796,000. Redmont Wealth Advisors LLC bought a new position in shares of Alico in the 3rd quarter worth about $648,000. Finally, Jane Street Group LLC acquired a new position in shares of Alico in the 2nd quarter valued at about $439,000. 62.28% of the stock is currently owned by institutional investors.

About Alico

Alico, Inc is an agribusiness and land management company headquartered in Fort Myers, Florida. The company owns and manages over 110,000 acres of land in southwestern Florida, with operations focused on citrus groves, sugarcane production, forestry and other row crops. Alico leverages its extensive land holdings to support integrated agricultural and environmental stewardship practices.

In its citrus division, Alico cultivates and markets fresh oranges for both the retail and processing markets, while its sugarcane segment supplies raw cane to domestic sugar mills.