Tejon Ranch (NYSE:TRC) Hits New 12-Month High - Here's Why

Key Points

• Tejon Ranch (TRC) hit a new 52-week high, trading as high as $20.20 and last at $20.2610, trading above its 50‑day and 200‑day moving averages of $18.61 and $16.97.
• Analyst sentiment remains negative overall with a MarketBeat consensus of "Sell", despite mixed recent moves (Weiss downgraded to sell while Wall Street Zen raised the stock to hold).
• The company reported a quarter with an EPS beat ($0.06 vs. $0.05 expected) and revenue of $21.11M versus $13.94M consensus, and institutional investors now own about 60.63% of the shares with several funds increasing positions.

Tejon Ranch Co (NYSE:TRC - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $20.20 and last traded at $20.2610, with a volume of 8305 shares. The stock had previously closed at $19.72.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TRC. Weiss Ratings cut shares of Tejon Ranch from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, March 20th. Wall Street Zen raised Tejon Ranch from a "sell" rating to a "hold" rating in a report on Sunday, March 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of "Sell".

Tejon Ranch Price Performance

The stock has a market capitalization of $550.40 million, a P/E ratio of 2,040.54 and a beta of 0.60. The company's 50 day simple moving average is $18.61 and its two-hundred day simple moving average is $16.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.14 and a quick ratio of 3.78.

Tejon Ranch (NYSE:TRC - Get Free Report) last announced its earnings results on Thursday, March 19th. The real estate development and agribusiness company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Tejon Ranch had a return on equity of 0.02% and a net margin of 0.15%.The business had revenue of $21.11 million for the quarter, compared to the consensus estimate of $13.94 million. As a group, equities analysts expect that Tejon Ranch Co will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in Tejon Ranch by 129.4% in the 1st quarter. Jane Street Group LLC now owns 58,095 shares of the real estate development and agribusiness company's stock valued at $921,000 after acquiring an additional 32,768 shares in the last quarter. Strs Ohio bought a new stake in shares of Tejon Ranch during the first quarter valued at approximately $65,000. Rhumbline Advisers grew its stake 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 valued at $567,000 after purchasing an additional 1,018 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Tejon Ranch by 10.6% in the second quarter. American Century Companies Inc. now owns 52,988 shares of the real estate development and agribusiness company's stock valued at $899,000 after purchasing an additional 5,064 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Tejon Ranch in the 2nd quarter worth approximately $770,000. Institutional investors and hedge funds own 60.63% of the company's stock.

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.

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