Tejon Ranch (NYSE:TRC) Hits New 1-Year High - Still a Buy?

Key Points

• Tejon Ranch shares climbed to a new 52-week high of about $19.82, trading above its 50-day and 200-day moving averages ($18.26 and $16.80) with a market cap near $535.5 million.
• Analyst sentiment is mixed but dour overall: Weiss Ratings recently cut TRC to a sell while Wall Street Zen moved to hold, and the stock's consensus rating on MarketBeat remains Sell.
• Operationally the company beat quarterly estimates (EPS $0.06 vs. $0.05 and revenue $21.11M vs. $13.94M), but margins and ROE are near zero and sell-side analysts forecast -0.04 EPS for the current fiscal year, reflected in an unusually high reported P/E (~1,986).

Shares of Tejon Ranch Co (NYSE:TRC - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $19.82 and last traded at $19.7850, with a volume of 9625 shares changing hands. The stock had previously closed at $19.57.

Analysts Set New Price Targets

Several analysts recently commented on TRC shares. Weiss Ratings cut Tejon Ranch from a "hold (c-)" rating to a "sell (d)" rating in a report on Friday, March 20th. Wall Street Zen upgraded Tejon Ranch from a "sell" rating to a "hold" rating in a report on Sunday, March 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tejon Ranch currently has a consensus rating of "Sell".

Tejon Ranch Price Performance

The stock has a market capitalization of $535.52 million, a P/E ratio of 1,985.99 and a beta of 0.60. The business has a fifty day simple moving average of $18.26 and a 200-day simple moving average of $16.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 4.14.

Tejon Ranch (NYSE:TRC - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The real estate development and agribusiness company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The firm had revenue of $21.11 million for the quarter, compared to analysts' expectations of $13.94 million. Tejon Ranch had a return on equity of 0.02% and a net margin of 0.15%. Sell-side analysts expect that Tejon Ranch Co will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tejon Ranch

A number of institutional investors have recently modified their holdings of TRC. Jane Street Group LLC raised its position in shares of Tejon Ranch by 129.4% during the first quarter. Jane Street Group LLC now owns 58,095 shares of the real estate development and agribusiness company's stock worth $921,000 after purchasing an additional 32,768 shares during the period. Strs Ohio acquired a new position in shares of Tejon Ranch during the first quarter worth approximately $65,000. Rhumbline Advisers raised its position in shares of Tejon Ranch by 3.1% during the second quarter. Rhumbline Advisers now owns 33,448 shares of the real estate development and agribusiness company's stock worth $567,000 after purchasing an additional 1,018 shares during the period. American Century Companies Inc. raised its position in shares of Tejon Ranch by 10.6% during the second quarter. American Century Companies Inc. now owns 52,988 shares of the real estate development and agribusiness company's stock worth $899,000 after purchasing an additional 5,064 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Tejon Ranch during the second quarter worth approximately $770,000. 60.63% of the stock is owned by institutional investors and hedge funds.

About Tejon Ranch

Tejon Ranch Corporation NYSE: TRC is one of California's largest private landowners, with a diversified portfolio spanning agriculture, real estate development and natural resource operations. Headquartered in Lebec, California, the company's holdings encompass approximately 270,000 acres in Kern and Los Angeles counties. Established in 1937 on the historic Rancho Tejon land grant, Tejon Ranch has leveraged its strategic location along Interstate 5 to build a multifaceted enterprise serving both local and regional markets.

In agriculture, Tejon Ranch grows a variety of row crops and permanent plantings, including almonds, pistachios, table grapes and citrus.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.