Tejon Ranch (NYSE:TRC) Hits New 52-Week High – Should You Buy?

Shares of Tejon Ranch Co (NYSE:TRC) reached a new 52-week high on Thursday . The company traded as high as $19.45 and last traded at $19.4950, with a volume of 87557 shares. The stock had previously closed at $19.06.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings raised Tejon Ranch from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Wall Street Zen raised shares of Tejon Ranch from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Tejon Ranch Stock Up 2.3%

The company has a current ratio of 2.66, a quick ratio of 2.06 and a debt-to-equity ratio of 0.19. The firm has a market cap of $524.22 million, a price-to-earnings ratio of 162.63 and a beta of 0.65. The firm’s 50 day simple moving average is $16.76 and its two-hundred day simple moving average is $16.37.

Hedge Funds Weigh In On Tejon Ranch

Several hedge funds and other institutional investors have recently made changes to their positions in TRC. Russell Investments Group Ltd. increased its stake in Tejon Ranch by 688.9% in the third quarter. Russell Investments Group Ltd. now owns 1,996 shares of the real estate development and agribusiness company’s stock valued at $32,000 after acquiring an additional 1,743 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Tejon Ranch by 59.8% in the second quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company’s stock valued at $37,000 after buying an additional 823 shares during the period. Strs Ohio bought a new stake in Tejon Ranch during the 1st quarter worth approximately $65,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Tejon Ranch in the fourth quarter worth $87,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Tejon Ranch in the second quarter valued at about $122,000. 60.63% of the stock is currently owned by institutional investors and hedge funds.

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.