Alico (NASDAQ:ALCO) Upgraded at Freedom Capital

Key Points

• Freedom Capital upgraded Alico from “hold” to “strong buy,” while other analysts also raised their ratings. The stock carries a consensus “buy” rating and a $45.00 price target.
• Alico shares rose 0.4% to $41.58, near the consensus target. The company recently reported quarterly EPS of $0.29, exceeding the $0.74-per-share loss analysts expected, with revenue of $9.04 million versus estimates of $2.75 million.
• Institutional investors and hedge funds own 62.28% of Alico’s shares, with several firms recently initiating or increasing positions.

Alico (NASDAQ:ALCO - Get Free Report) was upgraded by equities researchers at Freedom Capital from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Weiss Ratings upgraded Alico from a "sell (d)" rating to a "hold (c-)" rating in a report on Tuesday. Wall Street Zen raised Alico from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $45.00.

Alico Trading Up 0.4%

Shares of NASDAQ:ALCO opened at $41.58 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 9.39 and a current ratio of 9.63. The stock has a market capitalization of $308.36 million, a price-to-earnings ratio of 189.01 and a beta of 0.91. Alico has a 1-year low of $31.32 and a 1-year high of $45.01. The company has a 50 day moving average price of $40.26 and a 200 day moving average price of $40.76.

Alico (NASDAQ:ALCO - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $1.03. Alico had a negative return on equity of 20.68% and a net margin of 8.98%.The company had revenue of $9.04 million for the quarter, compared to analysts' expectations of $2.75 million. On average, research analysts anticipate that Alico will post -3.52 EPS for the current fiscal year.

Institutional Trading of Alico

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Alico in the second quarter valued at $28,000. BNP Paribas Financial Markets grew its holdings in shares of Alico by 86.6% during the third quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company's stock valued at $36,000 after buying an additional 478 shares in the last quarter. Hanson & Doremus Investment Management acquired a new position in Alico during the first quarter valued at $43,000. Osaic Holdings Inc. raised its position in Alico by 24.2% during the second quarter. Osaic Holdings Inc. now owns 1,611 shares of the company's stock valued at $53,000 after buying an additional 314 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Alico by 792.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company's stock valued at $107,000 after buying an additional 2,917 shares during the period. 62.28% of the stock is owned by institutional investors and hedge funds.

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.

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