Tejon Ranch (NYSE:TRC) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Tejon Ranch Co (NYSE:TRC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.05 and traded as high as $19.15. Tejon Ranch shares last traded at $18.8750, with a volume of 81,053 shares changing hands.

Analysts Set New Price Targets

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

Tejon Ranch Stock Performance

The business’s 50 day simple moving average is $19.27 and its two-hundred day simple moving average is $18.05. The firm has a market capitalization of $509.62 million, a PE ratio of 269.68 and a beta of 0.60. The company has a current ratio of 2.76, a quick ratio of 2.25 and a debt-to-equity ratio of 0.22.

Tejon Ranch (NYSE:TRC) last released its quarterly earnings results on Thursday, May 7th. The real estate development and agribusiness company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Tejon Ranch had a return on equity of 0.35% and a net margin of 3.32%.The firm had revenue of $9.50 million for the quarter, compared to the consensus estimate of $8.75 million. Research analysts expect that Tejon Ranch Co will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nitor Capital Management LLC purchased a new position in Tejon Ranch in the fourth quarter worth about $21,227,000. Lee Danner & Bass Inc. increased its position in shares of Tejon Ranch by 1,109.4% during the 1st quarter. Lee Danner & Bass Inc. now owns 695,425 shares of the real estate development and agribusiness company’s stock valued at $13,102,000 after purchasing an additional 637,925 shares during the last quarter. UBS Group AG lifted its stake in shares of Tejon Ranch by 482.2% in the 3rd quarter. UBS Group AG now owns 307,887 shares of the real estate development and agribusiness company’s stock worth $4,920,000 after purchasing an additional 255,008 shares during the period. Almitas Capital LLC bought a new position in shares of Tejon Ranch in the 4th quarter worth approximately $1,469,000. Finally, Sei Investments Co. boosted its holdings in shares of Tejon Ranch by 98.8% in the first quarter. Sei Investments Co. now owns 168,854 shares of the real estate development and agribusiness company’s stock worth $3,181,000 after buying an additional 83,921 shares during the last quarter. 60.63% of the stock is owned by hedge funds and other institutional investors.

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.