Freedom Capital Upgrades Alico (NASDAQ:ALCO) to Strong-Buy

Alico (NASDAQ:ALCO) was upgraded by stock analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

ALCO has been the topic of several other research reports. Weiss Ratings upgraded shares of Alico from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday. Wall Street Zen upgraded Alico from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $45.00.

Alico Trading Up 0.4%

Shares of ALCO opened at $41.58 on Tuesday. Alico has a twelve month low of $31.32 and a twelve month high of $45.01. The firm has a market capitalization of $308.36 million, a P/E ratio of 189.01 and a beta of 0.91. The company has a current ratio of 9.63, a quick ratio of 9.39 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $40.26 and its 200 day simple moving average is $40.76.

Alico (NASDAQ:ALCO) last issued its earnings results on Monday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $1.03. The business had revenue of $9.04 million during the quarter, compared to analysts’ expectations of $2.75 million. Alico had a negative return on equity of 20.68% and a net margin of 8.98%. On average, equities research analysts forecast that Alico will post -3.52 earnings per share for the current year.

Institutional Investors Weigh In On Alico

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in Alico by 45.2% in the 2nd quarter. Rhumbline Advisers now owns 15,598 shares of the company’s stock valued at $510,000 after buying an additional 4,859 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Alico during the second quarter worth about $332,000. Raymond James Financial Inc. acquired a new position in shares of Alico in the second quarter worth about $28,000. Jane Street Group LLC purchased a new position in Alico in the second quarter valued at about $439,000. Finally, Tower Research Capital LLC TRC grew its stake in Alico by 792.7% during the 2nd 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 in 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.