Zacks Investment Research Lowers Potlatch Corporation (PCH) to Hold
Potlatch Corporation (NASDAQ:PCH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Potlatch Corp. is an integrated forest products company with substantial timber resources. It is engaged principally in the growing and harvesting of timber and the manufacture and sale of wood products, printing papers and pulp and paper products. Its timberlands and all of its manufacturing facilities are located within the continental United States. “
A number of other equities research analysts also recently commented on the stock. Raymond James Financial, Inc. downgraded shares of Potlatch Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $40.00 target price on shares of Potlatch Corporation in a research report on Thursday, July 20th. BidaskClub raised shares of Potlatch Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $47.00 target price on shares of Potlatch Corporation in a research report on Monday, July 31st. Finally, Vertical Research downgraded shares of Potlatch Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Potlatch Corporation currently has an average rating of “Hold” and an average price target of $47.50.
Shares of Potlatch Corporation (NASDAQ PCH) opened at 51.25 on Wednesday. The firm’s 50-day moving average price is $50.42 and its 200-day moving average price is $47.32. Potlatch Corporation has a one year low of $36.35 and a one year high of $56.35. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 25.36 and a beta of 1.41.
Potlatch Corporation (NASDAQ:PCH) last announced its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Potlatch Corporation had a net margin of 12.94% and a return on equity of 50.54%. The company had revenue of $190.40 million during the quarter, compared to analyst estimates of $187.29 million. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts anticipate that Potlatch Corporation will post $2.42 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the business. Boston Advisors LLC bought a new stake in Potlatch Corporation in the 3rd quarter worth approximately $8,189,000. Nationwide Fund Advisors grew its position in shares of Potlatch Corporation by 101.3% during the 3rd quarter. Nationwide Fund Advisors now owns 271,388 shares of the real estate investment trust’s stock valued at $13,841,000 after acquiring an additional 136,601 shares during the period. Fisher Asset Management LLC grew its position in shares of Potlatch Corporation by 1.3% during the 3rd quarter. Fisher Asset Management LLC now owns 135,508 shares of the real estate investment trust’s stock valued at $6,911,000 after acquiring an additional 1,694 shares during the period. USA Financial Portformulas Corp bought a new stake in shares of Potlatch Corporation during the 2nd quarter valued at $496,000. Finally, Westwood Holdings Group Inc. grew its position in shares of Potlatch Corporation by 24.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 323,126 shares of the real estate investment trust’s stock valued at $14,767,000 after acquiring an additional 62,594 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.
About Potlatch Corporation
Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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