Tejon Ranch (NYSE:TRC) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Tejon Ranch Co (NYSE:TRC) shares passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $16.27 and traded as high as $16.40. Tejon Ranch shares last traded at $16.3430, with a volume of 153,018 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Tejon Ranch from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Tejon Ranch has an average rating of “Hold”.

Tejon Ranch Price Performance

The company has a market cap of $441.59 million, a price-to-earnings ratio of 71.06 and a beta of 0.55. The company has a current ratio of 2.92, a quick ratio of 2.06 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $16.27 and a 200 day moving average price of $17.72.

Tejon Ranch (NYSE:TRC) last issued its earnings results on Thursday, August 6th. The real estate development and agribusiness company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The business had revenue of $14.26 million for the quarter, compared to analysts’ expectations of $8.64 million. Tejon Ranch had a return on equity of 1.23% and a net margin of 10.62%. As a group, research analysts expect that Tejon Ranch Co will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tejon Ranch

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nitor Capital Management LLC acquired a new stake in shares of Tejon Ranch during the second quarter valued at approximately $33,640,000. BlackRock Inc. bought a new stake in shares of Tejon Ranch in the 2nd quarter valued at approximately $30,383,000. Cibc World Market Inc. bought a new stake in Tejon Ranch in the second quarter worth approximately $1,869,000. Almitas Capital LLC acquired a new position in Tejon Ranch during the second quarter worth $1,688,000. Finally, Sei Investments Co. increased its holdings in shares of Tejon Ranch by 98.8% during the 1st quarter. Sei Investments Co. now owns 168,854 shares of the real estate development and agribusiness company’s stock valued at $3,181,000 after acquiring an additional 83,921 shares during the last quarter. Institutional investors and hedge funds own 60.63% of the company’s stock.

Tejon Ranch Company Profile

Tejon Ranch Co is a diversified land and real estate development company based in California. It manages the approximately 270,000-acre Tejon Ranch, one of the largest contiguous private landholdings in the state, located primarily in Kern County near the southern San Joaquin Valley and the Tejon Pass connecting the Central Valley and the Los Angeles region.

The company’s principal activities include commercial, industrial, residential and resort development, as well as agriculture and resource management.