Tejon Ranch (NYSE:TRC) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• Tejon Ranch Co shares have dropped below their 200-day moving average of $16.87, trading as low as $15.58, indicating a potential weakening in the stock's performance.
• Analysts have issued a consensus rating of "Sell", with Weiss Ratings reissuing a "sell (d+)" rating on October 8th.
• The company's recent quarterly earnings missed estimates, reporting (-$0.06) EPS against an expectation of (–$0.02), despite revenue of $8.31 million exceeding forecasts.

Tejon Ranch Co (NYSE:TRC - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.87 and traded as low as $15.58. Tejon Ranch shares last traded at $15.82, with a volume of 67,388 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of Tejon Ranch in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Tejon Ranch currently has a consensus rating of "Sell".

Tejon Ranch Stock Performance

The firm has a market cap of $425.35 million, a price-to-earnings ratio of -1,581.80 and a beta of 0.64. The stock has a 50 day moving average of $16.50 and a 200 day moving average of $16.87. The company has a quick ratio of 1.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.17.

Tejon Ranch (NYSE:TRC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The real estate development and agribusiness company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). The company had revenue of $8.31 million during the quarter, compared to analyst estimates of $8.10 million. Tejon Ranch had a negative net margin of 1.17% and a negative return on equity of 0.11%. As a group, analysts anticipate that Tejon Ranch Co will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Foundation Resource Management Inc. raised its stake in Tejon Ranch by 0.4% in the third quarter. Foundation Resource Management Inc. now owns 485,080 shares of the real estate development and agribusiness company's stock valued at $7,752,000 after purchasing an additional 1,865 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Tejon Ranch by 59.8% in the second quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company's stock valued at $37,000 after purchasing an additional 823 shares in the last quarter. Bank of America Corp DE raised its stake in Tejon Ranch by 13.0% in the second quarter. Bank of America Corp DE now owns 18,425 shares of the real estate development and agribusiness company's stock valued at $312,000 after purchasing an additional 2,116 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Tejon Ranch in the second quarter valued at about $122,000. Finally, Quantinno Capital Management LP raised its stake in Tejon Ranch by 99.1% in the second quarter. Quantinno Capital Management LP now owns 56,013 shares of the real estate development and agribusiness company's stock valued at $950,000 after purchasing an additional 27,881 shares in the last quarter. Institutional investors and hedge funds own 60.63% of the company's stock.

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.

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