Alico (NASDAQ:ALCO) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Alico, Inc. (NASDAQ:ALCO)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $40.39 and traded as high as $41.16. Alico shares last traded at $41.16, with a volume of 18,916 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALCO. Freedom Capital lowered Alico from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a research report on Monday, April 20th. Wall Street Zen upgraded Alico from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Roth Capital set a $45.00 price target on Alico and gave the company a “buy” rating in a research note on Friday, March 27th. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.00.

Alico Price Performance

The business has a 50-day moving average of $40.96 and a 200 day moving average of $40.39. 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 firm has a market capitalization of $305.41 million, a P/E ratio of -16.73 and a beta of 0.91.

Alico (NASDAQ:ALCO) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.40. Alico had a negative return on equity of 38.92% and a negative net margin of 115.00%.The business had revenue of $5.34 million for the quarter, compared to analyst estimates of $2.45 million. On average, sell-side analysts predict that Alico, Inc. will post -3.52 earnings per share for the current fiscal year.

Alico Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, July 2nd. Alico’s dividend payout ratio (DPR) is currently -8.13%.

Institutional Trading of Alico

Several hedge funds have recently bought and sold shares of ALCO. Raymond James Financial Inc. bought a new stake in Alico during the 2nd quarter valued at $28,000. BNP Paribas Financial Markets lifted its stake in shares of Alico by 86.6% in 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 bought a new position in shares of Alico in the first quarter valued at $43,000. Osaic Holdings Inc. grew its holdings in shares of 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 last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

About Alico

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.