Weiss Ratings Reiterates "Sell (D+)" Rating for Tejon Ranch (NYSE:TRC)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for Tejon Ranch (NYSE:TRC), indicating continued negative sentiment toward the stock.
• Tejon Ranch reported a loss of ($0.06) EPS for the last quarter, missing the consensus estimate, despite revenue slightly exceeding expectations at $8.31 million.
• Hedge fund activity has increased with several firms, including Horizon Kinetics and Gabelli Funds, boosting their stakes significantly in Tejon Ranch during the second quarter.

Tejon Ranch (NYSE:TRC - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Tejon Ranch Trading Up 1.8%

NYSE TRC traded up $0.28 during mid-day trading on Wednesday, reaching $15.81. 109,611 shares of the stock were exchanged, compared to its average volume of 113,789. Tejon Ranch has a one year low of $14.70 and a one year high of $19.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.66. The stock has a market cap of $425.13 million, a P/E ratio of -1,581.00 and a beta of 0.64. The stock has a 50 day simple moving average of $16.92 and a 200-day simple moving average of $16.88.

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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $8.31 million during the quarter, compared to the consensus estimate of $8.10 million. Tejon Ranch had a negative net margin of 1.17% and a negative return on equity of 0.11%. On average, analysts anticipate that Tejon Ranch will post -0.04 EPS for the current year.

Insider Activity

In other news, CFO Brett A. Brown sold 5,356 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $18.55, for a total transaction of $99,353.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 22.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Horizon Kinetics Asset Management LLC boosted its stake in shares of Tejon Ranch by 99.9% in the second quarter. Horizon Kinetics Asset Management LLC now owns 1,647,497 shares of the real estate development and agribusiness company's stock valued at $27,942,000 after buying an additional 823,435 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Tejon Ranch by 1.1% in the second quarter. Gamco Investors INC. ET AL now owns 732,827 shares of the real estate development and agribusiness company's stock valued at $12,429,000 after purchasing an additional 7,900 shares during the last quarter. Geode Capital Management LLC raised its stake in Tejon Ranch by 4.4% during 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 buying an additional 24,268 shares in the last quarter. Foundation Resource Management Inc. lifted its holdings in shares of Tejon Ranch by 0.5% in the 2nd quarter. Foundation Resource Management Inc. now owns 483,215 shares of the real estate development and agribusiness company's stock worth $8,195,000 after purchasing an additional 2,213 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in Tejon Ranch by 33.6% in the 2nd quarter. Gabelli Funds LLC now owns 195,000 shares of the real estate development and agribusiness company's stock valued at $3,307,000 after acquiring an additional 49,000 shares during the period. 60.63% of the stock is owned by hedge funds and other institutional investors.

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.