Tejon Ranch (NYSE:TRC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Tejon Ranch (NYSE:TRC) from a sell rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tejon Ranch in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Tejon Ranch Price Performance

Shares of NYSE TRC traded up $0.30 during midday trading on Friday, reaching $16.04. 102,545 shares of the company were exchanged, compared to its average volume of 111,551. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.17. The stock has a market cap of $431.49 million, a P/E ratio of -1,604.40 and a beta of 0.63. Tejon Ranch has a one year low of $14.70 and a one year high of $19.39. The stock’s 50-day moving average price is $16.12 and its 200-day moving average price is $16.85.

Tejon Ranch (NYSE:TRC) last released its quarterly earnings results on Thursday, November 6th. The real estate development and agribusiness company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. Tejon Ranch had a negative return on equity of 0.11% and a negative net margin of 1.17%.The company had revenue of $11.97 million for the quarter, compared to analysts’ expectations of $9.53 million. On average, sell-side analysts anticipate that Tejon Ranch will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new position in shares of Tejon Ranch during the 1st quarter worth about $1,046,000. CenterBook Partners LP boosted its holdings in Tejon Ranch by 117.4% in the first quarter. CenterBook Partners LP now owns 145,039 shares of the real estate development and agribusiness company’s stock worth $2,299,000 after acquiring an additional 78,339 shares in the last quarter. Levin Capital Strategies L.P. grew its stake in Tejon Ranch by 97.9% in the second quarter. Levin Capital Strategies L.P. now owns 102,062 shares of the real estate development and agribusiness company’s stock valued at $1,731,000 after acquiring an additional 50,500 shares during the period. American Century Companies Inc. increased its holdings in shares of Tejon Ranch by 9.8% during the first quarter. American Century Companies Inc. now owns 47,924 shares of the real estate development and agribusiness company’s stock valued at $760,000 after acquiring an additional 4,288 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Tejon Ranch by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 724,927 shares of the real estate development and agribusiness company’s stock worth $11,490,000 after purchasing an additional 5,800 shares during the period. Institutional investors and hedge funds own 60.63% of the company’s stock.

About Tejon Ranch

Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.