Truist Financial Lowers Americold Realty Trust (NYSE:COLD) Price Target to $17.00

Key Points

• Truist Financial has lowered its price target for Americold Realty Trust from $20.00 to $17.00, while maintaining a "buy" rating, suggesting a potential upside of 37.93% from the current price.
• Other analysts have issued mixed ratings, with Zacks lowering the stock to a "strong sell," while seven analysts rate it a "buy" and the consensus rating is "hold" with an average target of $19.25.
• Americold Realty Trust reported earnings of $0.36 per share last quarter, exceeding estimates, but indicated a year-over-year revenue decline of 1.5%.

Americold Realty Trust (NYSE:COLD - Get Free Report) had its price target cut by research analysts at Truist Financial from $20.00 to $17.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price points to a potential upside of 37.93% from the stock's current price.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Americold Realty Trust from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. Barclays decreased their price target on shares of Americold Realty Trust from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Scotiabank dropped their price objective on Americold Realty Trust from $20.00 to $16.00 and set a "sector perform" rating for the company in a report on Friday, September 5th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $15.00 price target (down previously from $17.00) on shares of Americold Realty Trust in a research report on Tuesday. Finally, Wall Street Zen upgraded Americold Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Americold Realty Trust presently has a consensus rating of "Hold" and an average price target of $19.25.

Americold Realty Trust Price Performance

COLD traded down $0.13 during midday trading on Thursday, reaching $12.33. 559,166 shares of the company's stock were exchanged, compared to its average volume of 3,345,143. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $3.51 billion, a PE ratio of -64.87, a P/E/G ratio of 3.96 and a beta of 0.84. The business's 50-day moving average price is $14.75 and its 200 day moving average price is $17.22. Americold Realty Trust has a 1-year low of $12.22 and a 1-year high of $29.04.

Americold Realty Trust (NYSE:COLD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. Americold Realty Trust had a negative return on equity of 1.68% and a negative net margin of 2.09%.The company had revenue of $650.75 million during the quarter, compared to analysts' expectations of $644.95 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that Americold Realty Trust will post 1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Americold Realty Trust

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Americold Realty Trust by 49,833.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,498 shares of the company's stock worth $25,000 after acquiring an additional 1,495 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Americold Realty Trust by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,612 shares of the company's stock worth $27,000 after purchasing an additional 806 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in Americold Realty Trust during the 1st quarter valued at approximately $36,000. Parallel Advisors LLC grew its stake in Americold Realty Trust by 68.1% during the 1st quarter. Parallel Advisors LLC now owns 2,091 shares of the company's stock worth $45,000 after buying an additional 847 shares during the last quarter. Finally, Assetmark Inc. increased its position in Americold Realty Trust by 64.2% in the first quarter. Assetmark Inc. now owns 2,113 shares of the company's stock worth $45,000 after buying an additional 826 shares during the period. Institutional investors own 98.14% of the company's stock.

About Americold Realty Trust

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm's real estate portfolio.

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