Zacks Investment Research Lowers Alico (NASDAQ:ALCO) to Strong Sell

Zacks Investment Research downgraded shares of Alico (NASDAQ:ALCOGet Rating) from a hold rating to a strong sell rating in a research report released on Tuesday, 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. “

Separately, StockNews.com began coverage on shares of Alico in a report on Thursday, March 31st. They issued a hold rating on the stock.

NASDAQ ALCO opened at $41.02 on Tuesday. Alico has a 12 month low of $30.65 and a 12 month high of $43.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.88 and a quick ratio of 0.80. The company has a market capitalization of $310.11 million, a price-to-earnings ratio of 5.43 and a beta of 0.52. The company’s fifty day moving average price is $37.84 and its two-hundred day moving average price is $36.26.

Alico (NASDAQ:ALCOGet Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Alico had a net margin of 54.86% and a return on equity of 0.01%. During the same period in the prior year, the company posted $0.66 EPS. As a group, analysts anticipate that Alico will post -0.44 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8th. Investors of record on Friday, March 25th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, March 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.88%. Alico’s dividend payout ratio (DPR) is presently 26.46%.

Several hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC bought a new stake in Alico during the third quarter worth approximately $980,000. Marshall Wace LLP bought a new stake in Alico during the third quarter worth approximately $766,000. Ellsworth Advisors LLC bought a new stake in Alico during the fourth quarter worth approximately $501,000. Geode Capital Management LLC raised its holdings in Alico by 0.8% during the third quarter. Geode Capital Management LLC now owns 43,071 shares of the company’s stock worth $1,474,000 after purchasing an additional 354 shares in the last quarter. Finally, Quadrature Capital Ltd raised its holdings in Alico by 121.4% during the third quarter. Quadrature Capital Ltd now owns 16,889 shares of the company’s stock worth $578,000 after purchasing an additional 9,262 shares in the last quarter. 47.65% of the stock is currently owned by institutional investors and hedge funds.

Alico Company Profile (Get Rating)

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.

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