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

Tejon Ranch Co (NYSE:TRC)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.57 and traded as high as $19.67. Tejon Ranch shares last traded at $19.3560, with a volume of 95,275 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRC. Weiss Ratings lowered shares of Tejon Ranch from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 20th. Wall Street Zen raised shares of Tejon Ranch from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Tejon Ranch Price Performance

The stock has a market capitalization of $522.61 million, a P/E ratio of 276.55 and a beta of 0.61. The business’s 50 day simple moving average is $19.40 and its two-hundred day simple moving average is $17.57. The company has a quick ratio of 2.25, a current ratio of 2.76 and a debt-to-equity ratio of 0.22.

Tejon Ranch (NYSE:TRC) last announced its earnings results on Thursday, May 7th. The real estate development and agribusiness company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $9.50 million during the quarter, compared to the consensus estimate of $8.75 million. Tejon Ranch had a net margin of 3.32% and a return on equity of 0.35%. As a group, sell-side analysts forecast that Tejon Ranch Co will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of Tejon Ranch

Several institutional investors and hedge funds have recently made changes to their positions in TRC. Jane Street Group LLC raised its holdings in shares of Tejon Ranch by 129.4% in the first quarter. Jane Street Group LLC now owns 58,095 shares of the real estate development and agribusiness company’s stock valued at $921,000 after purchasing an additional 32,768 shares during the last quarter. Strs Ohio purchased a new stake in shares of Tejon Ranch in the first quarter valued at about $65,000. Rhumbline Advisers raised its holdings in shares of Tejon Ranch by 3.1% in the second quarter. Rhumbline Advisers now owns 33,448 shares of the real estate development and agribusiness company’s stock valued at $567,000 after purchasing an additional 1,018 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Tejon Ranch by 10.6% in the second quarter. American Century Companies Inc. now owns 52,988 shares of the real estate development and agribusiness company’s stock valued at $899,000 after purchasing an additional 5,064 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Tejon Ranch in the second quarter valued at about $770,000. Hedge funds and other institutional investors own 60.63% of the company’s stock.

About Tejon Ranch

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.