Alico (NASDAQ:ALCO) Upgraded to Hold at Zacks Investment Research


Share on StockTwits

Zacks Investment Research upgraded shares of Alico (NASDAQ:ALCO) from a sell rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Alico, Inc. is an agribusiness company operating in Central and Southwest Florida. The company is involved in various operations and activities including citrus fruit production, cattle ranching, sugarcane and sod production, and forestry. The company also leases land for farming, cattle grazing, recreation, and oil exploration. “

ALCO has been the topic of a number of other reports. Roth Capital initiated coverage on Alico in a research note on Monday, December 21st. They issued a buy rating and a $40.00 price objective on the stock. TheStreet raised Alico from a c rating to a b rating in a research report on Thursday, December 10th.

Shares of ALCO stock opened at $28.89 on Wednesday. The stock’s 50 day simple moving average is $29.98 and its 200 day simple moving average is $30.43. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.52 and a current ratio of 2.45. Alico has a twelve month low of $26.17 and a twelve month high of $34.00. The company has a market capitalization of $216.85 million, a price-to-earnings ratio of 9.14 and a beta of 0.68.

Alico (NASDAQ:ALCO) last issued its quarterly earnings data on Wednesday, February 3rd. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.02). Alico had a net margin of 25.58% and a negative return on equity of 0.87%. The company had revenue of $13.73 million during the quarter, compared to the consensus estimate of $12.90 million. On average, analysts forecast that Alico will post 0.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Friday, March 26th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, March 25th. Alico’s dividend payout ratio is currently -300.00%.

In other Alico news, major shareholder Remy W. Trafelet sold 49,923 shares of Alico stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $31.00, for a total value of $1,547,613.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALCO. Arrowstreet Capital Limited Partnership increased its position in shares of Alico by 6.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 15,860 shares of the company’s stock valued at $454,000 after purchasing an additional 1,000 shares during the period. JPMorgan Chase & Co. increased its position in shares of Alico by 27.9% during the third quarter. JPMorgan Chase & Co. now owns 5,876 shares of the company’s stock valued at $169,000 after purchasing an additional 1,282 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Alico by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 30,205 shares of the company’s stock valued at $865,000 after purchasing an additional 2,437 shares during the period. Advisors Asset Management Inc. increased its position in shares of Alico by 41.8% during the third quarter. Advisors Asset Management Inc. now owns 13,425 shares of the company’s stock valued at $384,000 after purchasing an additional 3,960 shares during the period. Finally, CM Management LLC bought a new stake in shares of Alico during the fourth quarter valued at approximately $2,792,000. Institutional investors and hedge funds own 46.76% of the company’s stock.

Alico Company Profile

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment cultivates citrus trees to produce citrus for delivery to the processed and fresh citrus markets.

Further Reading: Cost of Goods Sold (COGS)

Get a free copy of the Zacks research report on Alico (ALCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Alico Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alico and related companies with MarketBeat.com's FREE daily email newsletter.