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

Alico (NASDAQ:ALCO) was downgraded by Freedom Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

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

Alico Trading Down 1.9%

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALCO. Rhumbline Advisers lifted its position in Alico by 45.2% during the second quarter. Rhumbline Advisers now owns 15,598 shares of the company’s stock valued at $510,000 after purchasing an additional 4,859 shares during the period. American Century Companies Inc. purchased a new stake in Alico in the second quarter valued at $332,000. Raymond James Financial Inc. purchased a new stake in Alico in the second quarter valued at $28,000. Jane Street Group LLC purchased a new stake in Alico in the second quarter valued at $439,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Alico by 792.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company’s stock valued at $107,000 after purchasing an additional 2,917 shares during the last quarter. Hedge funds and other 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.