Tejon Ranch (NYSE:TRC) Hits New 12-Month High – Here’s Why

Tejon Ranch Co (NYSE:TRC) shares hit a new 52-week high during trading on Monday . The company traded as high as $20.20 and last traded at $20.2610, with a volume of 8305 shares trading hands. The stock had previously closed at $19.72.

Analyst Ratings Changes

Several equities analysts have weighed in on TRC shares. Wall Street Zen raised Tejon Ranch from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Weiss Ratings lowered shares of Tejon Ranch from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Tejon Ranch Stock Up 3.4%

The company has a current ratio of 4.14, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $550.40 million, a P/E ratio of 2,040.54 and a beta of 0.60. The firm’s 50 day moving average price is $18.61 and its two-hundred day moving average price is $16.97.

Tejon Ranch (NYSE:TRC) last announced its quarterly earnings data on Thursday, March 19th. The real estate development and agribusiness company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Tejon Ranch had a return on equity of 0.02% and a net margin of 0.15%.The company had revenue of $21.11 million during the quarter, compared to analysts’ expectations of $13.94 million. Equities research analysts forecast that Tejon Ranch Co will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Tejon Ranch

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC boosted its stake in shares of Tejon Ranch by 129.4% during the 1st quarter. Jane Street Group LLC now owns 58,095 shares of the real estate development and agribusiness company’s stock worth $921,000 after acquiring an additional 32,768 shares during the period. Strs Ohio bought a new position in Tejon Ranch in the 1st quarter valued at about $65,000. Rhumbline Advisers raised its holdings in Tejon Ranch by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 33,448 shares of the real estate development and agribusiness company’s stock valued at $567,000 after acquiring an additional 1,018 shares during the period. American Century Companies Inc. lifted its position in Tejon Ranch by 10.6% during the second quarter. American Century Companies Inc. now owns 52,988 shares of the real estate development and agribusiness company’s stock worth $899,000 after acquiring an additional 5,064 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Tejon Ranch during the second quarter worth approximately $770,000. Institutional investors and hedge funds own 60.63% of the company’s stock.

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.