Tejon Ranch (NYSE:TRC) Share Price Passes Below 200 Day Moving Average – What’s Next?

Tejon Ranch Co (NYSE:TRC)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.62 and traded as low as $16.06. Tejon Ranch shares last traded at $16.39, with a volume of 111,148 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. 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 shares of Tejon Ranch from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Tejon Ranch Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.66 and a quick ratio of 2.06. The business’s fifty day moving average is $16.08 and its 200-day moving average is $16.62. The firm has a market cap of $440.73 million, a PE ratio of 136.58 and a beta of 0.65.

Tejon Ranch (NYSE:TRC) last announced its quarterly earnings data on Thursday, November 6th. The real estate development and agribusiness company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $11.97 million during the quarter, compared to analyst estimates of $9.53 million. Tejon Ranch had a return on equity of 0.61% and a net margin of 6.41%. On average, research analysts predict that Tejon Ranch Co will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Tejon Ranch

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Horizon Kinetics Asset Management LLC increased its position in shares of Tejon Ranch by 99.9% during 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 during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Tejon Ranch during the 3rd quarter worth $7,118,000. UBS Group AG boosted its holdings in shares of Tejon Ranch by 482.2% in the 3rd quarter. UBS Group AG now owns 307,887 shares of the real estate development and agribusiness company’s stock worth $4,920,000 after purchasing an additional 255,008 shares in the last quarter. Teton Advisors LLC bought a new stake in Tejon Ranch in the 3rd quarter worth approximately $1,326,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Tejon Ranch in the 3rd quarter valued at $1,314,000. 60.63% of the stock is currently owned by institutional investors.

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.