Americold Realty Trust (NYSE:COLD) Downgraded by Bank of America to Underperform

Americold Realty Trust (NYSE:COLD) was downgraded by equities researchers at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Thursday, MarketBeat reports. They currently have a $13.00 price target on the stock. Bank of America‘s price objective points to a potential downside of 0.23% from the stock’s current price.

COLD has been the topic of several other research reports. Barclays dropped their price target on Americold Realty Trust from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Robert W. Baird reissued a “neutral” rating and set a $13.00 target price (down from $16.00) on shares of Americold Realty Trust in a report on Thursday, December 18th. Evercore ISI decreased their price target on Americold Realty Trust from $14.00 to $13.00 and set an “in-line” rating on the stock in a research note on Monday, December 22nd. Royal Bank Of Canada downgraded Americold Realty Trust from a “moderate buy” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Zacks Research upgraded shares of Americold Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.85.

Americold Realty Trust Stock Up 3.0%

Shares of Americold Realty Trust stock opened at $13.03 on Thursday. Americold Realty Trust has a 1 year low of $10.10 and a 1 year high of $23.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $3.71 billion, a P/E ratio of -59.23, a price-to-earnings-growth ratio of 4.49 and a beta of 0.91. The business has a 50-day moving average of $12.51 and a two-hundred day moving average of $13.20.

Americold Realty Trust (NYSE:COLD) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $663.67 million for the quarter, compared to analyst estimates of $659.51 million. Americold Realty Trust had a negative net margin of 2.39% and a negative return on equity of 1.96%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities analysts predict that Americold Realty Trust will post 1.47 EPS for the current year.

Institutional Investors Weigh In On Americold Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rock Point Advisors LLC lifted its holdings in Americold Realty Trust by 8.6% during the 4th quarter. Rock Point Advisors LLC now owns 488,740 shares of the company’s stock worth $6,285,000 after purchasing an additional 38,670 shares in the last quarter. Versor Investments LP raised its position in shares of Americold Realty Trust by 14.6% in the fourth quarter. Versor Investments LP now owns 59,700 shares of the company’s stock worth $768,000 after buying an additional 7,600 shares in the last quarter. Nwam LLC boosted its stake in Americold Realty Trust by 33.8% during the fourth quarter. Nwam LLC now owns 15,339 shares of the company’s stock valued at $199,000 after buying an additional 3,877 shares during the period. American Assets Inc. increased its stake in Americold Realty Trust by 20.0% in the 4th quarter. American Assets Inc. now owns 60,000 shares of the company’s stock worth $772,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Ethic Inc. bought a new position in shares of Americold Realty Trust in the fourth quarter worth approximately $304,000. 98.14% of the stock is currently owned by institutional investors.

Americold Realty Trust Company Profile

Americold Realty Trust is a real estate investment trust specializing in temperature-controlled warehousing and logistics solutions. The company owns, operates, and develops a global network of cold storage facilities designed to support the storage, handling, and distribution of perishable products. Services include blast freezing, repacking, labeling, cross-docking, and transportation management, all integrated to streamline clients’ cold chain operations and help ensure product quality and safety from origin to point of consumption.

With roots dating back to the early 20th century, Americold has expanded through strategic acquisitions and facility development to become one of the world’s largest publicly traded cold storage providers.