Potlatchdeltic (NASDAQ:PCH) Lifted to Strong-Buy at Raymond James
Potlatchdeltic (NASDAQ:PCH) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Thursday, The Fly reports.
Several other research analysts also recently commented on the company. BidaskClub raised Potlatchdeltic from a “sell” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada raised Potlatchdeltic from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $45.00 in a research note on Friday, July 10th. BofA Securities downgraded Potlatchdeltic from a “buy” rating to a “neutral” rating in a research note on Friday, September 11th. Finally, Bank of America downgraded Potlatchdeltic from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Friday, September 11th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Potlatchdeltic currently has an average rating of “Buy” and an average price target of $44.80.
PCH stock opened at $42.10 on Thursday. The business’s 50-day moving average is $43.77 and its two-hundred day moving average is $37.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.40. Potlatchdeltic has a fifty-two week low of $22.40 and a fifty-two week high of $48.13. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 161.93 and a beta of 1.37.
Several large investors have recently added to or reduced their stakes in PCH. Ellevest Inc. grew its holdings in Potlatchdeltic by 10,041.7% during the 2nd quarter. Ellevest Inc. now owns 1,217 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 1,205 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Potlatchdeltic during the 2nd quarter valued at approximately $92,000. Baker Ellis Asset Management LLC purchased a new position in Potlatchdeltic during the 2nd quarter valued at approximately $165,000. Advisor Group Holdings Inc. purchased a new position in Potlatchdeltic during the 1st quarter valued at approximately $173,000. Finally, Cove Street Capital LLC purchased a new position in Potlatchdeltic during the 2nd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 85.32% of the company’s stock.
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
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