Tejon Ranch (NYSE:TRC) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Tejon Ranch Co (NYSE:TRC - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.19 and traded as high as $18.07. Tejon Ranch shares last traded at $18.06, with a volume of 77,465 shares traded.

Tejon Ranch Stock Up 2.0%

The stock has a market cap of $485.45 million, a price-to-earnings ratio of 200.67 and a beta of 0.61. The company has a current ratio of 2.68, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. The stock's 50-day moving average price is $16.69 and its 200-day moving average price is $16.19.

Tejon Ranch (NYSE:TRC - Get Free Report) last released its earnings results on Thursday, May 8th. The real estate development and agribusiness company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The firm had revenue of $8.21 million during the quarter, compared to analyst estimates of $7.57 million. Tejon Ranch had a net margin of 5.01% and a return on equity of 0.44%. On average, sell-side analysts expect that Tejon Ranch Co will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRC. Proficio Capital Partners LLC acquired a new position in Tejon Ranch in the fourth quarter valued at approximately $312,000. Charles Schwab Investment Management Inc. raised its position in shares of Tejon Ranch by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 195,879 shares of the real estate development and agribusiness company's stock worth $3,114,000 after purchasing an additional 1,409 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Tejon Ranch in the 4th quarter worth about $632,000. Kennondale Capital Management LLC purchased a new stake in shares of Tejon Ranch in the fourth quarter worth approximately $174,000. Finally, American Century Companies Inc. raised its stake in shares of Tejon Ranch by 12.0% in the fourth quarter. American Century Companies Inc. now owns 43,636 shares of the real estate development and agribusiness company's stock worth $694,000 after purchasing an additional 4,672 shares during the last quarter. 60.63% of the stock is owned by institutional investors and hedge funds.

About Tejon Ranch

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.