Tejon Ranch (NYSE:TRC) Stock Passes Below 200-Day Moving Average – Here’s Why

Shares of Tejon Ranch Co (NYSE:TRC) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.71 and traded as low as $15.75. Tejon Ranch shares last traded at $15.89, with a volume of 76,836 shares trading hands.

Analyst Ratings Changes

TRC has been the subject of a number of recent research reports. Wall Street Zen raised Tejon Ranch from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tejon Ranch in a research report on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Tejon Ranch presently has a consensus rating of “Hold”.

Tejon Ranch Stock Performance

The firm’s fifty day moving average price is $16.02 and its 200 day moving average price is $16.71. The firm has a market cap of $427.35 million, a P/E ratio of 132.42 and a beta of 0.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.06 and a current ratio of 2.66.

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

Hedge Funds Weigh In On Tejon Ranch

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRC. Nuveen LLC bought a new position in Tejon Ranch in the first quarter worth about $1,046,000. American Century Companies Inc. lifted its holdings in shares of Tejon Ranch by 9.8% during the 1st quarter. American Century Companies Inc. now owns 47,924 shares of the real estate development and agribusiness company’s stock valued at $760,000 after purchasing an additional 4,288 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Tejon Ranch by 1.4% in the 1st quarter. Gabelli Funds LLC now owns 146,000 shares of the real estate development and agribusiness company’s stock worth $2,314,000 after purchasing an additional 2,000 shares in the last quarter. Jane Street Group LLC grew its stake in 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 buying an additional 32,768 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Tejon Ranch in the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors 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.