Alico (NASDAQ:ALCO) Stock Passes Above 200-Day Moving Average – What’s Next?

Alico, Inc. (NASDAQ:ALCO)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.34 and traded as high as $41.64. Alico shares last traded at $41.17, with a volume of 15,046 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALCO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alico in a research note on Wednesday, January 21st. Roth Mkm restated a “buy” rating and set a $42.00 target price on shares of Alico in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Alico Stock Down 0.9%

The company has a debt-to-equity ratio of 0.82, a current ratio of 14.39 and a quick ratio of 13.02. The stock has a market cap of $312.56 million, a price-to-earnings ratio of -2.20 and a beta of 1.02. The firm’s 50-day moving average is $38.52 and its 200 day moving average is $35.40.

Alico (NASDAQ:ALCO) last announced its quarterly earnings data on Wednesday, February 4th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.92). The company had revenue of $1.89 million for the quarter, compared to analysts’ expectations of $3.22 million. Alico had a negative net margin of 487.45% and a negative return on equity of 101.66%. Sell-side analysts anticipate that Alico, Inc. will post -0.37 earnings per share for the current fiscal year.

Alico Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.05 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.20 annualized dividend and a yield of 0.5%. Alico’s dividend payout ratio is currently -1.08%.

Hedge Funds Weigh In On Alico

Several hedge funds and other institutional investors have recently modified their holdings of the company. Gate City Capital Management LLC boosted its position in Alico by 28.2% during the 2nd quarter. Gate City Capital Management LLC now owns 1,126,553 shares of the company’s stock worth $36,816,000 after purchasing an additional 248,136 shares during the period. Accordant Advisory Group Inc grew its stake in shares of Alico by 34.9% in the third quarter. Accordant Advisory Group Inc now owns 67,723 shares of the company’s stock valued at $2,347,000 after buying an additional 17,521 shares in the last quarter. Towerview LLC raised its holdings in shares of Alico by 8.7% during the 2nd quarter. Towerview LLC now owns 125,000 shares of the company’s stock valued at $4,085,000 after buying an additional 10,000 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of Alico by 5.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 12,033 shares of the company’s stock valued at $393,000 after buying an additional 639 shares during the period. Finally, Peapod Lane Capital LLC lifted its position in Alico by 0.3% during the 2nd quarter. Peapod Lane Capital LLC now owns 131,265 shares of the company’s stock worth $4,290,000 after acquiring an additional 434 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

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.