Tejon Ranch (NYSE:TRC) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Tejon Ranch Co shares have crossed above their 200-day moving average, reaching a high of $18.07 before settling at $17.89 with a market cap of approximately $480.88 million.
• The company reported a quarterly loss of ($0.05) EPS, missing the consensus estimate, but generated revenue of $8.21 million, exceeding expectations of $7.57 million.
• Among institutional investors, hedge funds such as JPMorgan Chase & Co. and Wells Fargo have increased their stakes significantly, indicating growing interest in the stock.

Tejon Ranch Co (NYSE:TRC - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.58 and traded as high as $18.07. Tejon Ranch shares last traded at $17.89, with a volume of 165,596 shares changing hands.

Tejon Ranch Stock Up 1.7%

The company has a market capitalization of $488.95 million, a price-to-earnings ratio of 202.11 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.68 and a quick ratio of 2.35. The business has a 50 day simple moving average of $17.35 and a 200 day simple moving average of $16.59.

Tejon Ranch (NYSE:TRC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The real estate development and agribusiness company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). Tejon Ranch had a return on equity of 0.44% and a net margin of 5.01%. The company had revenue of $8.21 million for the quarter, compared to analysts' expectations of $7.57 million. As a group, equities analysts predict that Tejon Ranch Co will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other Tejon Ranch news, CFO Brett A. Brown sold 5,356 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $18.55, for a total transaction of $99,353.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of Tejon Ranch by 2.2% during the fourth quarter. Invesco Ltd. now owns 33,531 shares of the real estate development and agribusiness company's stock worth $533,000 after buying an additional 724 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Tejon Ranch by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,598 shares of the real estate development and agribusiness company's stock worth $360,000 after purchasing an additional 1,030 shares during the period. NBC Securities Inc. lifted its holdings in Tejon Ranch by 86,300.0% in the first quarter. NBC Securities Inc. now owns 1,728 shares of the real estate development and agribusiness company's stock worth $27,000 after acquiring an additional 1,726 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Tejon Ranch in the first quarter worth $28,000. Finally, Gabelli Funds LLC boosted its holdings in shares of Tejon Ranch by 1.3% during the fourth quarter. Gabelli Funds LLC now owns 144,000 shares of the real estate development and agribusiness company's stock valued at $2,290,000 after acquiring an additional 1,800 shares during the period. 60.63% of the stock is owned by hedge funds and other institutional investors.

Tejon Ranch Company Profile

Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.