Tejon Ranch (NYSE:TRC) Sees Unusually-High Trading Volume – Here’s Why

Tejon Ranch Co (NYSE:TRC) saw unusually-high trading volume on Wednesday . Approximately 164,494 shares were traded during trading, an increase of 63% from the previous session’s volume of 100,725 shares.The stock last traded at $19.0550 and had previously closed at $17.86.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TRC. Weiss Ratings upgraded Tejon Ranch from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Wall Street Zen raised Tejon Ranch from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Tejon Ranch Price Performance

The company has a 50-day moving average of $16.83 and a two-hundred day moving average of $16.39. The stock has a market capitalization of $505.80 million, a PE ratio of 156.75 and a beta of 0.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.66 and a quick ratio of 2.06.

Institutional Investors Weigh In On Tejon Ranch

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Tejon Ranch by 688.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,996 shares of the real estate development and agribusiness company’s stock valued at $32,000 after purchasing an additional 1,743 shares during the last quarter. BNP Paribas Financial Markets grew its position in Tejon Ranch by 59.8% during 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 acquiring an additional 823 shares during the period. Strs Ohio acquired a new stake in Tejon Ranch during the first quarter worth about $65,000. Eurizon Capital SGR S.p.A. acquired a new stake in Tejon Ranch during the fourth quarter worth about $87,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Tejon Ranch in the 2nd quarter worth about $122,000. 60.63% of the stock is owned by institutional investors and hedge funds.

Tejon Ranch Company Profile

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.