Tejon Ranch (NYSE:TRC) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Tejon Ranch Co (NYSE:TRC) passed 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 trading hands.

Wall Street Analysts Forecast Growth

TRC has been the subject of several recent research reports. Wall Street Zen upgraded shares of 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 research report on Friday, March 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Tejon Ranch Stock Up 0.1%

The company has a market cap of $509.62 million, a price-to-earnings ratio of 269.68 and a beta of 0.60. The stock has a 50-day simple moving average of $19.26 and a 200-day simple moving average of $18.06. 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 issued its quarterly earnings results on Thursday, May 7th. The real estate development and agribusiness company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $9.50 million for the quarter, compared to analyst estimates of $8.75 million. Tejon Ranch had a return on equity of 0.35% and a net margin of 3.32%. As a group, analysts predict that Tejon Ranch Co will post 0.11 EPS for the current year.

Institutional Trading of Tejon Ranch

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in shares of Tejon Ranch by 688.9% during the third quarter. Russell Investments Group Ltd. now owns 1,996 shares of the real estate development and agribusiness company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the period. BNP Paribas Financial Markets boosted its stake in Tejon Ranch by 59.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company’s stock valued at $37,000 after purchasing an additional 823 shares in the last quarter. Strs Ohio bought a new position in Tejon Ranch during the 1st quarter valued at $65,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Tejon Ranch during the 4th quarter valued at $87,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tejon Ranch during the 2nd quarter valued at $122,000. 60.63% of the stock is owned by institutional investors and hedge funds.

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.