Tejon Ranch (NYSE:TRC) Hits New 1-Year High on Earnings Beat
by Renee Jackson · The Cerbat GemShares of Tejon Ranch Co (NYSE:TRC – Get Free Report) reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $20.75 and last traded at $20.42, with a volume of 13774 shares. The stock had previously closed at $19.72.
The real estate development and agribusiness company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $9.50 million during the quarter, compared to analyst estimates of $8.75 million. Tejon Ranch had a return on equity of 0.02% and a net margin of 0.15%.
Wall Street Analysts Forecast Growth
TRC has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Tejon Ranch from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 20th. Wall Street Zen raised shares of Tejon Ranch from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Analysis on TRC
Hedge Funds Weigh In On Tejon Ranch
Hedge funds have recently modified their holdings of the company. Lee Danner & Bass Inc. increased its stake 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 worth $13,102,000 after purchasing an additional 637,925 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Tejon Ranch during the 4th quarter worth approximately $389,000. Clayton Partners LLC purchased a new stake in shares of Tejon Ranch during the 4th quarter worth approximately $279,000. Almitas Capital LLC purchased a new stake in shares of Tejon Ranch during the 4th quarter worth approximately $1,469,000. Finally, AQR Capital Management LLC increased its stake in shares of Tejon Ranch by 11.8% during the 4th quarter. AQR Capital Management LLC now owns 11,970 shares of the real estate development and agribusiness company’s stock worth $189,000 after purchasing an additional 1,265 shares during the last quarter. Institutional investors own 60.63% of the company’s stock.
Tejon Ranch Stock Performance
The company’s 50 day moving average price is $18.95 and its 200-day moving average price is $17.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 4.14. The company has a market cap of $553.72 million, a PE ratio of 2,052.55 and a beta of 0.61.
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.