Alico (NASDAQ:ALCO) Rating Lowered to “Hold” at Freedom Capital

Alico (NASDAQ:ALCO – Get Free Report) was downgraded by equities researchers at Freedom Capital from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Alico in a report on Monday, April 20th. Roth Mkm set a $45.00 target price on Alico and gave the stock a “buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen raised Alico from a “sell” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.00.

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Alico Trading Down 1.9%

NASDAQ ALCO opened at $40.17 on Thursday. The company’s 50-day moving average price is $41.04 and its 200-day moving average price is $38.67. The company has a current ratio of 9.63, a quick ratio of 13.02 and a debt-to-equity ratio of 0.80. The stock has a market cap of $298.06 million, a PE ratio of -16.33 and a beta of 0.95. Alico has a 12 month low of $29.50 and a 12 month high of $45.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALCO. Gate City Capital Management LLC grew its holdings in Alico by 3.1% during the 4th quarter. Gate City Capital Management LLC now owns 1,297,679 shares of the company’s stock worth $47,210,000 after acquiring an additional 39,500 shares in the last quarter. Accordant Advisory Group Inc grew its holdings in Alico by 39.4% during the 4th quarter. Accordant Advisory Group Inc now owns 94,411 shares of the company’s stock worth $3,435,000 after acquiring an additional 26,688 shares in the last quarter. Squarepoint Ops LLC bought a new position in Alico during the 4th quarter worth about $796,000. Redmont Wealth Advisors LLC bought a new position in Alico during the 3rd quarter worth about $648,000. Finally, Jane Street Group LLC bought a new position in Alico during the 2nd quarter worth about $439,000. 62.28% of the stock is currently owned by institutional investors.

About Alico

(Get Free Report)

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.

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