Tejon Ranch’s (TRC) Sell (D+) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d+) rating on shares of Tejon Ranch (NYSE:TRC) in a report published on Friday morning,Weiss Ratings reports.

Tejon Ranch Price Performance

Shares of NYSE TRC opened at $16.18 on Friday. The stock has a market capitalization of $434.95 million, a price-to-earnings ratio of -1,617.50 and a beta of 0.64. Tejon Ranch has a 12 month low of $14.70 and a 12 month high of $19.39. The firm’s 50 day simple moving average is $16.42 and its 200-day simple moving average is $16.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.66.

Tejon Ranch (NYSE:TRC) last issued its quarterly earnings results on Thursday, August 7th. The real estate development and agribusiness company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $8.31 million during the quarter, compared to analysts’ expectations of $8.10 million. Tejon Ranch had a negative return on equity of 0.11% and a negative net margin of 1.17%. Analysts expect that Tejon Ranch will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Tejon Ranch

Several institutional investors have recently bought and sold shares of TRC. BNP Paribas Financial Markets grew its holdings in shares of Tejon Ranch by 59.8% in the second quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company’s stock valued at $37,000 after purchasing an additional 823 shares in the last quarter. Strs Ohio acquired a new position in shares of Tejon Ranch in the first quarter valued at approximately $65,000. Raymond James Financial Inc. acquired a new position in shares of Tejon Ranch in the second quarter valued at approximately $122,000. Bank of America Corp DE increased its stake in shares of Tejon Ranch by 13.0% during the second quarter. Bank of America Corp DE now owns 18,425 shares of the real estate development and agribusiness company’s stock worth $312,000 after buying an additional 2,116 shares during the period. Finally, Creative Planning increased its stake in shares of Tejon Ranch by 52.8% during the second quarter. Creative Planning now owns 27,659 shares of the real estate development and agribusiness company’s stock worth $469,000 after buying an additional 9,557 shares during the period. 60.63% of the stock is owned by institutional investors and hedge funds.

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.