Potlatch (NASDAQ:PCH) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Potlatch has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research, indicating a significant shift in analyst sentiment.
• Other analysts, including Wall Street Zen and Citigroup, have also cut their ratings and price targets for Potlatch, reflecting concerns about the company's stock performance.
• Despite recent downgrades, Potlatch maintains a consensus rating of "Moderate Buy" with five analysts rating it as a buy and an average price target of $49.33.

Potlatch (NASDAQ:PCH - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Truist Financial cut their price target on Potlatch from $52.00 to $51.00 and set a "buy" rating on the stock in a research note on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Potlatch in a research note on Wednesday, October 8th. Finally, Citigroup reaffirmed a "neutral" rating and set a $45.00 price target (down previously from $49.00) on shares of Potlatch in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.33.

Potlatch Price Performance

Shares of PCH stock opened at $42.09 on Wednesday. The stock's fifty day moving average is $41.75 and its 200-day moving average is $40.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The stock has a market capitalization of $3.25 billion, a PE ratio of 79.42 and a beta of 1.10. Potlatch has a 52 week low of $36.82 and a 52 week high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its earnings results on Friday, May 6th. The real estate investment trust reported $1.94 EPS for the quarter. The company had revenue of $354.19 million for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. Equities research analysts expect that Potlatch will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Potlatch

Several hedge funds have recently added to or reduced their stakes in PCH. Costello Asset Management INC acquired a new position in Potlatch in the first quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in Potlatch by 61.1% in the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 411 shares during the period. UMB Bank n.a. lifted its stake in Potlatch by 32.3% in the second quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 279 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Potlatch in the first quarter worth about $52,000. Finally, Quarry LP increased its holdings in shares of Potlatch by 70.9% in the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 494 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

About Potlatch

PotlatchDeltic Corporation Nasdaq: PCH is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.

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