Alico (NASDAQ:ALCO) Shares Pass Above 200 Day Moving Average – What’s Next?

Alico, Inc. (NASDAQ:ALCO) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $36.96 and traded as high as $41.69. Alico shares last traded at $41.21, with a volume of 26,422 shares.

Wall Street Analysts Forecast Growth

ALCO has been the topic of several recent research reports. Wall Street Zen downgraded Alico from a “hold” rating to a “sell” rating in a research note on Sunday, March 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alico currently has a consensus rating of “Hold” and an average price target of $42.00.

Alico Price Performance

The firm has a market cap of $315.67 million, a price-to-earnings ratio of -2.22 and a beta of 1.00. The company’s fifty day moving average is $40.37 and its 200 day moving average is $36.96. The company has a quick ratio of 13.02, a current ratio of 14.39 and a debt-to-equity ratio of 0.82.

Alico (NASDAQ:ALCO) last issued its quarterly earnings results 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). Alico had a negative net margin of 487.45% and a negative return on equity of 101.66%. The business had revenue of $1.89 million during the quarter, compared to analyst estimates of $3.22 million. On average, equities research analysts predict that Alico, Inc. will post -0.37 EPS for the current year.

Alico Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, April 3rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.5%. Alico’s payout ratio is currently -1.08%.

Institutional Trading of Alico

Several institutional investors and hedge funds have recently bought and sold shares of ALCO. Gate City Capital Management LLC raised its stake in shares of 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 in the last quarter. 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. Redmont Wealth Advisors LLC bought a new position in shares of Alico in the third quarter valued at $648,000. XTX Topco Ltd acquired a new position in Alico during the second quarter worth $268,000. Finally, Peapod Lane Capital LLC increased its holdings in Alico by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 133,701 shares of the company’s stock worth $4,864,000 after buying an additional 983 shares during the last quarter. Institutional investors 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.