Tejon Ranch (NYSE:TRC) Stock Passes Below 200-Day Moving Average – Here’s Why

Tejon Ranch Co (NYSE:TRC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.71 and traded as low as $15.75. Tejon Ranch shares last traded at $15.89, with a volume of 76,836 shares changing hands.

Wall Street Analysts Forecast Growth

TRC has been the topic of several analyst reports. Wall Street Zen raised Tejon Ranch from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tejon Ranch in a research note on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tejon Ranch currently has a consensus rating of “Hold”.

Tejon Ranch Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.06 and a current ratio of 2.66. The stock’s 50 day simple moving average is $16.02 and its two-hundred day simple moving average is $16.71. The firm has a market capitalization of $427.35 million, a PE ratio of 132.42 and a beta of 0.64.

Tejon Ranch (NYSE:TRC) last posted its earnings results on Thursday, November 6th. The real estate development and agribusiness company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Tejon Ranch had a net margin of 6.41% and a return on equity of 0.61%. The company had revenue of $11.97 million for the quarter, compared to analyst estimates of $9.53 million. On average, sell-side analysts forecast that Tejon Ranch Co 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 the company. Horizon Kinetics Asset Management LLC boosted its holdings in Tejon Ranch by 99.9% in the second quarter. Horizon Kinetics Asset Management LLC now owns 1,647,497 shares of the real estate development and agribusiness company’s stock valued at $27,942,000 after purchasing an additional 823,435 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Tejon Ranch in the third quarter valued at $7,118,000. UBS Group AG raised its stake in Tejon Ranch by 482.2% in the third quarter. UBS Group AG now owns 307,887 shares of the real estate development and agribusiness company’s stock valued at $4,920,000 after buying an additional 255,008 shares in the last quarter. Teton Advisors LLC purchased a new stake in Tejon Ranch during the third quarter worth approximately $1,326,000. Finally, Two Sigma Investments LP acquired a new position in Tejon Ranch in the third quarter valued at approximately $1,314,000. 60.63% of the stock is owned by institutional investors and hedge funds.

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.