Tejon Ranch (NYSE:TRC) Share Price Breaks Below 200-Day Moving Average - Should You Sell?

Key Points

• Tejon Ranch shares fell below their 200-day moving average, trading as low as $16.02 versus the $17.91 average, with the stock last changing hands near $16.19.
• Weiss Ratings downgraded the company’s rating from “hold (c)” to “hold (c-),” while the sole covering analyst maintains a Hold rating. The stock has a market capitalization of approximately $437 million and trades at a P/E ratio of 70.38.
• Tejon Ranch exceeded quarterly expectations, reporting $0.10 in EPS versus the $0.02 consensus and revenue of $14.26 million versus $8.64 million expected. Institutional investors own approximately 60.63% of the company’s shares.

Tejon Ranch Co (NYSE:TRC - Get Free Report) passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $17.91 and traded as low as $16.02. Tejon Ranch shares last traded at $16.1870, with a volume of 142,541 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Tejon Ranch from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock presently has an average rating of "Hold".

Tejon Ranch Stock Up 0.9%

The company has a quick ratio of 2.06, a current ratio of 2.92 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $16.27 and a two-hundred day simple moving average of $17.91. The stock has a market capitalization of $437.37 million, a P/E ratio of 70.38 and a beta of 0.55.

Tejon Ranch (NYSE:TRC - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. Tejon Ranch had a return on equity of 1.23% and a net margin of 10.62%. The company had revenue of $14.26 million during the quarter, compared to analysts' expectations of $8.64 million. Equities research analysts forecast that Tejon Ranch Co will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tejon Ranch

A number of hedge funds have recently made changes to their positions in TRC. Nitor Capital Management LLC bought a new stake in Tejon Ranch during the 2nd quarter worth approximately $33,640,000. BlackRock Inc. acquired a new stake in Tejon Ranch during the 2nd quarter valued at $30,383,000. Gamco Investors INC. ET AL increased its holdings in Tejon Ranch by 0.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 737,939 shares of the real estate development and agribusiness company's stock valued at $13,903,000 after purchasing an additional 5,113 shares in the last quarter. Lee Danner & Bass Inc. increased its holdings in 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 in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Tejon Ranch by 4.8% during the 1st quarter. Renaissance Technologies LLC now owns 348,748 shares of the real estate development and agribusiness company's stock valued at $6,570,000 after purchasing an additional 15,922 shares in the last quarter. Institutional investors and hedge funds own 60.63% of the company's stock.

Tejon Ranch Company Profile

Tejon Ranch Company NYSE: TRC is a diversified real estate and resource management company based in California. Its operations are centered on Tejon Ranch, a large privately owned property located in the Tejon Pass area of Southern California, between Los Angeles and Bakersfield.

The company develops and manages commercial, industrial, residential and retail properties. Its real estate portfolio includes the Tejon Ranch Commerce Center, the Tejon Industrial Complex, the Tejon Ranch Outlets and planning activities related to Centennial, a proposed master-planned community.

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