Tejon Ranch (NYSE:TRC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Tejon Ranch Co (NYSE:TRC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.19 and traded as high as $18.07. Tejon Ranch shares last traded at $18.06, with a volume of 77,465 shares traded.

Tejon Ranch Stock Up 2.0%

The stock has a market cap of $485.45 million, a price-to-earnings ratio of 200.67 and a beta of 0.61. The company has a current ratio of 2.68, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $16.69 and its 200-day moving average price is $16.19.

Tejon Ranch (NYSE:TRC) last released its earnings results on Thursday, May 8th. The real estate development and agribusiness company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The firm had revenue of $8.21 million during the quarter, compared to analyst estimates of $7.57 million. Tejon Ranch had a net margin of 5.01% and a return on equity of 0.44%. On average, sell-side analysts expect that Tejon Ranch Co will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRC. Proficio Capital Partners LLC acquired a new position in Tejon Ranch in the fourth quarter valued at approximately $312,000. Charles Schwab Investment Management Inc. raised its position in shares of Tejon Ranch by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 195,879 shares of the real estate development and agribusiness company’s stock worth $3,114,000 after purchasing an additional 1,409 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Tejon Ranch in the 4th quarter worth about $632,000. Kennondale Capital Management LLC purchased a new stake in shares of Tejon Ranch in the fourth quarter worth approximately $174,000. Finally, American Century Companies Inc. raised its stake in shares of Tejon Ranch by 12.0% in the fourth quarter. American Century Companies Inc. now owns 43,636 shares of the real estate development and agribusiness company’s stock worth $694,000 after purchasing an additional 4,672 shares during the last quarter. 60.63% of the stock is owned by institutional investors and hedge funds.

About Tejon Ranch

Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.