Royal Bank Of Canada Reiterates Sector Perform Rating for Americold Realty Trust (NYSE:COLD)

Key Points

• Royal Bank of Canada reaffirmed a “sector perform” rating on Americold Realty Trust, with a $16 price target implying approximately 10.4% upside from the reported $14.49 share price.
• Analyst sentiment remains mixed but broadly neutral: MarketBeat reports a consensus rating of “Hold” and an average target price of $15.39, based on four Buy, eight Hold, and four Sell ratings.
• Institutional ownership is substantial, at 98.14% of shares, with recent large stakes purchased by BlackRock, Norges Bank, Ancora Advisors, and the Canada Pension Plan Investment Board.

Americold Realty Trust (NYSE:COLD - Get Free Report)'s stock had its "sector perform" rating reaffirmed by research analysts at Royal Bank Of Canada in a research note issued to investors on Monday,Benzinga reports. They presently have a $16.00 price objective on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 10.44% from the stock's current price.

Several other equities research analysts have also issued reports on COLD. Scotiabank increased their target price on shares of Americold Realty Trust from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Thursday. UBS Group raised their price objective on Americold Realty Trust from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, July 17th. Weiss Ratings cut Americold Realty Trust from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Citigroup upped their target price on Americold Realty Trust from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Company increased their target price on Americold Realty Trust from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.39.

Americold Realty Trust Stock Performance

COLD stock traded down $0.39 during midday trading on Monday, hitting $14.49. 75,621 shares of the stock traded hands, compared to its average volume of 4,529,302. The firm has a market cap of $4.14 billion, a P/E ratio of -9.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.10 and a quick ratio of 0.10. The stock's fifty day simple moving average is $14.97 and its 200-day simple moving average is $13.61. Americold Realty Trust has a 1-year low of $10.10 and a 1-year high of $16.88.

Institutional Trading of Americold Realty Trust

A number of institutional investors have recently made changes to their positions in COLD. BlackRock Inc. purchased a new stake in shares of Americold Realty Trust during the second quarter worth $350,837,000. Norges Bank acquired a new position in Americold Realty Trust during the fourth quarter worth about $152,684,000. Ancora Advisors LLC acquired a new position in Americold Realty Trust during the second quarter worth about $163,962,000. Canada Pension Plan Investment Board purchased a new stake in Americold Realty Trust during the 2nd quarter valued at about $126,564,000. Finally, Baupost Group LLC MA purchased a new stake in Americold Realty Trust during the 3rd quarter valued at about $44,064,000. 98.14% of the stock is owned by institutional investors and hedge funds.

About Americold Realty Trust

Americold Realty Trust is a real estate investment trust specializing in temperature-controlled warehousing and logistics solutions. The company owns, operates, and develops a global network of cold storage facilities designed to support the storage, handling, and distribution of perishable products. Services include blast freezing, repacking, labeling, cross-docking, and transportation management, all integrated to streamline clients' cold chain operations and help ensure product quality and safety from origin to point of consumption.

With roots dating back to the early 20th century, Americold has expanded through strategic acquisitions and facility development to become one of the world's largest publicly traded cold storage providers.

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