Tejon Ranch (NYSE:TRC) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Tejon Ranch Co (NYSE:TRC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.94 and traded as high as $19.08. Tejon Ranch shares last traded at $18.5330, with a volume of 95,623 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings cut shares of Tejon Ranch from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 20th. Wall Street Zen raised Tejon Ranch from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tejon Ranch presently has a consensus rating of “Sell”.

Tejon Ranch Stock Performance

The company’s fifty day moving average price is $19.33 and its 200 day moving average price is $17.97. The company has a market cap of $509.41 million, a PE ratio of 269.57 and a beta of 0.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.76 and a quick ratio of 2.25.

Tejon Ranch (NYSE:TRC) last released its quarterly earnings results on Thursday, May 7th. The real estate development and agribusiness company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $9.50 million for the quarter, compared to analysts’ expectations of $8.75 million. Tejon Ranch had a net margin of 3.32% and a return on equity of 0.35%. On average, equities research analysts predict that Tejon Ranch Co will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On Tejon Ranch

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in Tejon Ranch by 129.4% during the first quarter. Jane Street Group LLC now owns 58,095 shares of the real estate development and agribusiness company’s stock worth $921,000 after acquiring an additional 32,768 shares during the period. Strs Ohio purchased a new stake in shares of Tejon Ranch during the 1st quarter valued at $65,000. Rhumbline Advisers raised its stake in shares of Tejon Ranch by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 33,448 shares of the real estate development and agribusiness company’s stock worth $567,000 after purchasing an additional 1,018 shares during the period. American Century Companies Inc. raised its stake in shares of Tejon Ranch by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 52,988 shares of the real estate development and agribusiness company’s stock worth $899,000 after purchasing an additional 5,064 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Tejon Ranch in the 2nd quarter worth about $770,000. 60.63% of the stock is owned by institutional investors.

Tejon Ranch Company Profile

Tejon Ranch Corporation (NYSE: TRC) is one of California’s largest private landowners, with a diversified portfolio spanning agriculture, real estate development and natural resource operations. Headquartered in Lebec, California, the company’s holdings encompass approximately 270,000 acres in Kern and Los Angeles counties. Established in 1937 on the historic Rancho Tejon land grant, Tejon Ranch has leveraged its strategic location along Interstate 5 to build a multifaceted enterprise serving both local and regional markets.

In agriculture, Tejon Ranch grows a variety of row crops and permanent plantings, including almonds, pistachios, table grapes and citrus.