Tejon Ranch (NYSE:TRC) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Tejon Ranch shares fell below their 200-day moving average of $18.21, trading as low as $16.04 and last changing hands near $16.43.
• Weiss Ratings downgraded the stock from “hold (c)” to “hold (c-),” while the company retains an overall analyst rating of Hold.
• Tejon Ranch exceeded quarterly expectations, reporting $0.10 EPS versus the $0.02 consensus estimate and revenue of $14.26 million versus $8.64 million expected; institutional investors own 60.63% of its shares.

Tejon Ranch Co (NYSE:TRC - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $18.21 and traded as low as $16.04. Tejon Ranch shares last traded at $16.4320, with a volume of 115,054 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Tejon Ranch from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Tejon Ranch currently has an average rating of "Hold".

Tejon Ranch Trading Up 1.1%

The stock has a 50-day moving average price of $16.55 and a two-hundred day moving average price of $18.21. The stock has a market capitalization of $443.99 million, a PE ratio of 71.44 and a beta of 0.57. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.06 and a current ratio of 2.92.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Two Sigma Securities LLC purchased a new position in shares of Tejon Ranch in the second quarter valued at about $213,000. Almitas Capital LLC purchased a new stake in shares of Tejon Ranch during the second quarter worth about $1,688,000. Bank of America Corp DE purchased a new stake in shares of Tejon Ranch during the second quarter worth about $899,000. Legal & General Group Plc purchased a new stake in shares of Tejon Ranch during the second quarter worth about $40,000. Finally, Cibc World Market Inc. bought a new stake in Tejon Ranch during the 2nd quarter valued at approximately $1,869,000. Hedge funds and other institutional investors own 60.63% of the company's stock.

About Tejon Ranch

Tejon Ranch Co NYSE: TRC is a diversified real estate development and natural resources company based in California. Its operations are centered on the Tejon Ranch, a large, contiguous property located near the junction of Interstate 5 and State Route 99, north of Los Angeles and south of Bakersfield.

The company develops and manages residential, commercial, and industrial properties on and around the ranch. Its projects include Tejon Ranch Commerce Center, a logistics and industrial development; Tejon Ranch Outlets, a retail shopping destination; and Centennial, a planned master-planned community.

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