TheStreet Lowers Pope Resources (POPE) to C
Pope Resources (NASDAQ:POPE) was downgraded by investment analysts at TheStreet from a “b” rating to a “c” rating in a research note issued on Monday, TheStreetRatingsTable reports.
Shares of POPE stock opened at $67.40 on Monday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.45. Pope Resources has a 1 year low of $62.50 and a 1 year high of $73.50. The firm has a market cap of $292.01 million, a price-to-earnings ratio of 23.63 and a beta of 0.26.
Pope Resources announced that its Board of Directors has initiated a share repurchase plan on Monday, March 4th that allows the company to buyback $2.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 0.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
About Pope Resources
Pope Resources, A Delaware Limited Partnership manages timber resources in the United States. The company operates in three segments: Fee Timber, Timberland Investment Management, and Real Estate. The Fee Timber segment is involved in growing, managing, harvesting, and marketing timber from 206,000 timberland acres that it owns or manages as tree farms to domestic manufacturers and export brokers.
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