Tejon Ranch (NYSE:TRC) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Tejon Ranch shares crossed above its 200‑day moving average (200‑day MA $16.95), trading as high as $19.80 and last at $19.725 on volume of 55,409 shares.
• Analysts give TRC an average rating of "Sell"; Weiss Ratings recently downgraded to "sell" while Wall Street Zen moved the stock from "sell" to "hold."
• The company beat quarterly estimates with $0.06 EPS (vs. $0.05) and $21.11M revenue (vs. $13.94M), though it still shows a very high P/E of 1,974.47 and a market cap of about $532.6M.

Tejon Ranch Co (NYSE:TRC - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.95 and traded as high as $19.80. Tejon Ranch shares last traded at $19.7250, with a volume of 55,409 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings downgraded 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 shares of Tejon Ranch from a "sell" rating to a "hold" rating in a research note on Sunday, March 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Tejon Ranch has an average rating of "Sell".

Tejon Ranch Trading Up 0.7%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 4.14. The stock has a market capitalization of $532.58 million, a P/E ratio of 1,974.47 and a beta of 0.60. The firm's fifty day simple moving average is $18.61 and its 200 day simple moving average is $16.95.

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

Institutional Investors Weigh In On Tejon Ranch

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Tejon Ranch by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,138,314 shares of the real estate development and agribusiness company's stock worth $34,170,000 after buying an additional 14,767 shares during the period. Nitor Capital Management LLC bought a new stake in shares of Tejon Ranch in the 4th quarter valued at $21,227,000. Gamco Investors INC. ET AL increased its stake in shares of Tejon Ranch by 8.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 732,826 shares of the real estate development and agribusiness company's stock valued at $11,557,000 after acquiring an additional 56,800 shares in the last quarter. Foundation Resource Management Inc. increased its stake in shares of Tejon Ranch by 2.0% in the 4th quarter. Foundation Resource Management Inc. now owns 494,801 shares of the real estate development and agribusiness company's stock valued at $7,803,000 after acquiring an additional 9,721 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Tejon Ranch by 0.3% in the 4th quarter. Concurrent Investment Advisors LLC now owns 446,595 shares of the real estate development and agribusiness company's stock valued at $7,043,000 after acquiring an additional 1,155 shares in the last quarter. 60.63% of the stock is owned by institutional investors.

Tejon Ranch Company Profile

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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