EagleRock Land, LLC’s (NYSE:EROK) Quiet Period Set To End on June 23rd

EagleRock Land’s (NYSE:EROK) quiet period will expire on Tuesday, June 23rd. EagleRock Land had issued 17,300,000 shares in its IPO on May 14th. The total size of the offering was $320,050,000 based on an initial share price of $18.50. During EagleRock Land’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

EROK has been the topic of several analyst reports. Stephens began coverage on EagleRock Land in a report on Monday, June 8th. They set an “overweight” rating and a $28.00 target price on the stock. Barclays began coverage on EagleRock Land in a report on Monday, June 8th. They issued an “overweight” rating and a $25.00 price target for the company. Texas Capital upgraded EagleRock Land to a “strong-buy” rating in a research report on Monday, June 8th. Raymond James Financial started coverage on shares of EagleRock Land in a research note on Monday, June 8th. They set an “outperform” rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of EagleRock Land in a research note on Monday, June 8th. They set an “overweight” rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, EagleRock Land has an average rating of “Moderate Buy” and an average price target of $25.83.

EagleRock Land Price Performance

Shares of EagleRock Land stock opened at $20.28 on Tuesday. EagleRock Land has a fifty-two week low of $20.25 and a fifty-two week high of $24.80.

Insider Activity

In other news, Director Jeff Slaughter Lott acquired 250,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $18.50 per share, for a total transaction of $4,625,000.00. Following the completion of the transaction, the director owned 250,000 shares in the company, valued at approximately $4,625,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephanie L. Reed acquired 13,513 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $18.50 per share, with a total value of $249,990.50. Following the transaction, the director owned 13,513 shares of the company’s stock, valued at approximately $249,990.50. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 518,918 shares of company stock worth $9,599,983.