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

Alico (NASDAQ:ALCO) was downgraded by stock analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on ALCO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alico in a research note on Monday, April 20th. Wall Street Zen raised shares of Alico from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Roth Mkm set a $45.00 price target on shares of Alico and gave the company a “buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.00.

Alico Price Performance

Alico stock opened at $40.17 on Thursday. The company has a market cap of $298.06 million, a price-to-earnings ratio of -16.33 and a beta of 0.95. The firm’s fifty day moving average is $41.04 and its 200 day moving average is $38.67. The company has a quick ratio of 13.02, a current ratio of 9.63 and a debt-to-equity ratio of 0.80. Alico has a 52-week low of $29.50 and a 52-week high of $45.01.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALCO. Raymond James Financial Inc. bought a new position in Alico during the second quarter valued at $28,000. BNP Paribas Financial Markets increased its position in Alico by 86.6% during the third quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company’s stock valued at $36,000 after acquiring an additional 478 shares during the last quarter. Hanson & Doremus Investment Management bought a new position in Alico during the first quarter valued at $43,000. Nisa Investment Advisors LLC increased its position in Alico by 24.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,506 shares of the company’s stock valued at $52,000 after acquiring an additional 294 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in Alico by 24.2% during the second quarter. Osaic Holdings Inc. now owns 1,611 shares of the company’s stock valued at $53,000 after acquiring an additional 314 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

Alico Company Profile

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.