Americold Realty Trust (NYSE:COLD) Stock Rating Lowered by Zacks Research

Key Points

• Americold Realty Trust has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, signaling potential concerns for investors.
• Multiple research firms have revised their price targets downward, with Scotiabank lowering the target from $20.00 to $16.00, indicating a cautious outlook on the stock.
• The company's stock is currently trading at $13.19, reflecting a 2.1% decline on the day amidst these downgrades and mixed analyst opinions.

Americold Realty Trust (NYSE:COLD - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday, September 9th,Zacks.com reports.

A number of other brokerages have also issued reports on COLD. Wall Street Zen raised shares of Americold Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Evercore ISI cut their price target on shares of Americold Realty Trust from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Monday, September 8th. JPMorgan Chase & Co. lowered shares of Americold Realty Trust from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $24.00 to $21.00 in a report on Monday, June 23rd. Scotiabank cut their price target on shares of Americold Realty Trust from $20.00 to $16.00 and set a "sector perform" rating on the stock in a report on Friday, September 5th. Finally, Truist Financial cut their price target on shares of Americold Realty Trust from $24.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.00.

Americold Realty Trust Trading Down 0.5%

Americold Realty Trust stock traded down $0.07 during trading hours on Tuesday, reaching $13.59. The company had a trading volume of 1,683,343 shares, compared to its average volume of 3,221,131. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.12 and a quick ratio of 0.12. Americold Realty Trust has a 12-month low of $13.10 and a 12-month high of $29.50. The company has a 50-day moving average price of $15.23 and a 200 day moving average price of $17.61. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of -71.61, a P/E/G ratio of 4.32 and a beta of 0.85.

Americold Realty Trust (NYSE:COLD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Americold Realty Trust had a negative net margin of 2.09% and a negative return on equity of 1.68%. The firm had revenue of $650.75 million for the quarter, compared to analysts' expectations of $644.95 million. During the same quarter last year, the business earned $0.38 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that Americold Realty Trust will post 1.47 earnings per share for the current year.

Hedge Funds Weigh In On Americold Realty Trust

A number of hedge funds have recently added to or reduced their stakes in COLD. Mercer Global Advisors Inc. ADV purchased a new position in Americold Realty Trust in the 4th quarter worth approximately $265,000. Bank of America Corp DE raised its holdings in Americold Realty Trust by 18.1% in the 4th quarter. Bank of America Corp DE now owns 1,490,260 shares of the company's stock worth $31,892,000 after acquiring an additional 228,662 shares during the last quarter. Cresset Asset Management LLC purchased a new position in shares of Americold Realty Trust during the fourth quarter valued at approximately $326,000. Graham Capital Management L.P. purchased a new position in shares of Americold Realty Trust during the fourth quarter valued at approximately $345,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Americold Realty Trust by 22.3% during the fourth quarter. Lazard Asset Management LLC now owns 23,119 shares of the company's stock valued at $494,000 after purchasing an additional 4,219 shares during the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

About Americold Realty Trust

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm's real estate portfolio.