Alico (ALCO) Downgraded to Hold at BidaskClub

Alico (NASDAQ:ALCO) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, TheStreet lowered Alico from a “c” rating to a “d+” rating in a research note on Tuesday, December 12th.

Alico (NASDAQ:ALCO) opened at $30.15 on Wednesday. Alico has a 12 month low of $25.50 and a 12 month high of $34.80. The company has a quick ratio of 1.89, a current ratio of 4.16 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $249.81, a P/E ratio of -25.99 and a beta of 1.33.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. bought a new stake in shares of Alico during the second quarter valued at approximately $204,000. SG Americas Securities LLC increased its holdings in shares of Alico by 8.6% during the second quarter. SG Americas Securities LLC now owns 10,710 shares of the company’s stock valued at $335,000 after acquiring an additional 845 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Alico by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 12,562 shares of the company’s stock valued at $394,000 after acquiring an additional 57 shares in the last quarter. Wendell David Associates Inc. bought a new stake in shares of Alico during the third quarter valued at approximately $610,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Alico by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 30,413 shares of the company’s stock valued at $1,039,000 after acquiring an additional 2,018 shares in the last quarter. 74.57% of the stock is currently owned by hedge funds and other institutional investors.

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About Alico

Alico, Inc is an agribusiness and natural resources management company. The Company’s segments include Orange Co, Conservation and Environmental Resources and, Other Operations. Its principal lines of business are citrus groves, cattle ranching and conservation. The Orange Co segment includes activities related to planting, owning, cultivating and/or managing citrus groves in order 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.

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