Tejon Ranch (NYSE:TRC) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Tejon Ranch from a "sell" to a "hold" while Weiss Ratings downgraded it to a "sell," and the consensus rating remains Sell.
• Tejon Ranch beat estimates for the quarter with $0.06 EPS (vs. $0.05 est.) and $21.11M revenue (vs. $13.94M est.), but analysts still predict -$0.04 EPS for the current year.
• The stock opened at $19.07 (52-week range $15.04–$19.61) with a $513.6M market cap, an extremely high P/E of ~1,908.9, strong liquidity ratios, and roughly 60.6% institutional ownership.

Tejon Ranch (NYSE:TRC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday.

Separately, Weiss Ratings lowered Tejon Ranch from a "hold (c-)" rating to a "sell (d)" rating in a report on Friday, March 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Tejon Ranch currently has a consensus rating of "Sell".

Tejon Ranch Trading Down 0.2%

NYSE:TRC opened at $19.07 on Friday. Tejon Ranch has a 52 week low of $15.04 and a 52 week high of $19.61. The company has a quick ratio of 3.78, a current ratio of 4.14 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $513.56 million, a P/E ratio of 1,908.91 and a beta of 0.65. The company has a fifty day moving average of $17.43 and a 200 day moving average of $16.52.

Tejon Ranch (NYSE:TRC - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The real estate development and agribusiness company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $21.11 million for the quarter, compared to the consensus estimate of $13.94 million. Tejon Ranch had a return on equity of 0.02% and a net margin of 0.15%. On average, research analysts predict that Tejon Ranch will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRC. Vanguard Group Inc. boosted its stake in shares of Tejon Ranch by 0.7% during the 3rd 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 acquiring an additional 14,767 shares in the last quarter. Nitor Capital Management LLC purchased a new position in Tejon Ranch during the fourth quarter worth approximately $21,227,000. Gamco Investors INC. ET AL boosted its position in Tejon Ranch by 1.1% during the second quarter. Gamco Investors INC. ET AL now owns 732,827 shares of the real estate development and agribusiness company's stock worth $12,429,000 after purchasing an additional 7,900 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tejon Ranch by 4.4% in the second quarter. Geode Capital Management LLC now owns 580,079 shares of the real estate development and agribusiness company's stock valued at $9,840,000 after purchasing an additional 24,268 shares during the period. Finally, Foundation Resource Management Inc. grew its holdings in Tejon Ranch by 2.0% in the fourth 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 purchasing an additional 9,721 shares during the period. Hedge funds and other institutional investors 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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