Americold Realty Trust (NYSE:COLD) Rating Lowered to Neutral at JPMorgan Chase & Co.

Americold Realty Trust (NYSE:COLD) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Monday, Marketbeat reports. They presently have a $21.00 price objective on the stock, down from their previous price objective of $24.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.93% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Citigroup cut their price target on shares of Americold Realty Trust from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Friday, March 21st. BNP Paribas Exane lowered shares of Americold Realty Trust from an “outperform” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Thursday, June 12th. Robert W. Baird cut their price target on shares of Americold Realty Trust from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Scotiabank reissued a “sector perform” rating and issued a $20.00 price target on shares of Americold Realty Trust in a report on Thursday, May 15th. Finally, Barclays raised shares of Americold Realty Trust from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $26.00 to $21.00 in a report on Wednesday, April 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.67.

Americold Realty Trust Stock Performance

COLD opened at $17.37 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a fifty day moving average price of $17.93 and a 200 day moving average price of $20.21. Americold Realty Trust has a 1 year low of $16.11 and a 1 year high of $30.45. The stock has a market cap of $4.94 billion, a P/E ratio of -40.39, a P/E/G ratio of 1.60 and a beta of 0.84.

Americold Realty Trust (NYSE:COLD) last posted its earnings results on Thursday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Americold Realty Trust had a negative net margin of 4.58% and a negative return on equity of 3.60%. The firm had revenue of $628.98 million during the quarter, compared to analyst estimates of $667.18 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts anticipate that Americold Realty Trust will post 1.47 earnings per share for the current year.

Insider Transactions at Americold Realty Trust

In other news, CFO Jay Wells purchased 10,000 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $17.91 per share, with a total value of $179,100.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $179,100. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George F. Jr. Chappelle purchased 110,000 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $17.99 per share, for a total transaction of $1,978,900.00. Following the transaction, the chief executive officer now owns 110,000 shares in the company, valued at approximately $1,978,900. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of COLD. Sanctuary Advisors LLC boosted its position in shares of Americold Realty Trust by 22.2% during the 4th quarter. Sanctuary Advisors LLC now owns 22,619 shares of the company’s stock valued at $498,000 after acquiring an additional 4,105 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Americold Realty Trust by 1,081.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,221 shares of the company’s stock valued at $48,000 after acquiring an additional 2,033 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Americold Realty Trust by 10.6% in the fourth quarter. Handelsbanken Fonder AB now owns 81,700 shares of the company’s stock valued at $1,748,000 after buying an additional 7,800 shares during the last quarter. TCW Group Inc. boosted its stake in Americold Realty Trust by 21.6% during the fourth quarter. TCW Group Inc. now owns 80,892 shares of the company’s stock worth $1,731,000 after buying an additional 14,386 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its stake in Americold Realty Trust by 139.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 61,788 shares of the company’s stock worth $1,322,000 after buying an additional 35,973 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

Americold Realty Trust Company Profile

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm’s real estate portfolio.