Alico (NASDAQ:ALCO) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Alico (NASDAQ:ALCO) from a sell rating to a hold rating in a report released on Tuesday morning.

Alico Trading Down 9.4 %

Alico stock opened at $26.02 on Tuesday. Alico has a 12-month low of $22.58 and a 12-month high of $31.00. The firm has a market capitalization of $198.27 million, a price-to-earnings ratio of 4.13 and a beta of 0.86. The firm has a 50 day moving average of $28.10 and a 200 day moving average of $28.10. The company has a current ratio of 2.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.

Alico (NASDAQ:ALCO) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($2.06). Alico had a negative return on equity of 14.09% and a net margin of 110.84%. The firm had revenue of $13.99 million during the quarter, compared to analysts’ expectations of $11.50 million. As a group, research analysts predict that Alico will post -3.41 earnings per share for the current year.

Alico Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. Alico’s dividend payout ratio is presently 3.17%.

Hedge Funds Weigh In On Alico

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Alico by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 71,140 shares of the company’s stock worth $1,776,000 after purchasing an additional 604 shares in the last quarter. LDR Capital Management LLC lifted its holdings in shares of Alico by 21.7% in the third quarter. LDR Capital Management LLC now owns 15,662 shares of the company’s stock worth $391,000 after buying an additional 2,792 shares in the last quarter. Towerview LLC boosted its position in shares of Alico by 11.0% during the third quarter. Towerview LLC now owns 199,322 shares of the company’s stock worth $4,975,000 after acquiring an additional 19,822 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in Alico by 4.3% during the third quarter. Pacific Ridge Capital Partners LLC now owns 215,500 shares of the company’s stock valued at $5,379,000 after acquiring an additional 8,971 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Alico in the 4th quarter valued at $120,000. Institutional investors own 62.28% 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 engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.