Potlatch (NASDAQ:PCH) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
PCH has been the subject of a number of other research reports. BidaskClub cut shares of Potlatch from a “buy” rating to a “hold” rating in a report on Saturday, October 7th. Zacks Investment Research cut shares of Potlatch from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 25th. DA Davidson lifted their price objective on shares of Potlatch to $47.00 and gave the company an “underperform” rating in a report on Tuesday, October 24th. Finally, BMO Capital Markets restated a “hold” rating on shares of Potlatch in a report on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Potlatch presently has a consensus rating of “Hold” and a consensus target price of $48.60.
Shares of Potlatch (NASDAQ PCH) opened at $49.90 on Tuesday. Potlatch has a 12-month low of $39.05 and a 12-month high of $56.35. The firm has a market cap of $2,026.48, a PE ratio of 23.00, a price-to-earnings-growth ratio of 4.18 and a beta of 1.44. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.72 and a current ratio of 2.17.
In other Potlatch news, VP William R. Dereu sold 4,720 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $52.50, for a total transaction of $247,800.00. Following the completion of the transaction, the vice president now owns 26,142 shares in the company, valued at approximately $1,372,455. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Potlatch by 1.6% during the 2nd quarter. BlackRock Inc. now owns 4,839,675 shares of the real estate investment trust’s stock worth $221,173,000 after buying an additional 75,874 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Potlatch by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,680,147 shares of the real estate investment trust’s stock worth $168,183,000 after buying an additional 251,612 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Potlatch by 3.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,588,200 shares of the real estate investment trust’s stock worth $72,581,000 after buying an additional 59,647 shares during the last quarter. State Street Corp lifted its position in shares of Potlatch by 8.0% during the 2nd quarter. State Street Corp now owns 1,378,999 shares of the real estate investment trust’s stock worth $63,023,000 after buying an additional 102,275 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in shares of Potlatch by 8.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,105,370 shares of the real estate investment trust’s stock worth $56,374,000 after buying an additional 86,425 shares during the last quarter. Institutional investors and hedge funds own 84.79% of the company’s stock.
About Potlatch
Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
