Tejon Ranch (NYSE:TRC) Hits New 1-Year High – Here’s Why

Tejon Ranch Co (NYSE:TRC)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $19.45 and last traded at $19.4950, with a volume of 87557 shares trading hands. The stock had previously closed at $19.06.

Wall Street Analyst Weigh In

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

Tejon Ranch Stock Up 2.3%

The stock has a fifty day moving average of $16.76 and a 200 day moving average of $16.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.66 and a quick ratio of 2.06. The firm has a market capitalization of $524.22 million, a P/E ratio of 162.63 and a beta of 0.65.

Institutional Investors Weigh In On Tejon Ranch

A number of hedge funds have recently modified their holdings of TRC. Vanguard Group Inc. grew its holdings in Tejon Ranch by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,138,314 shares of the real estate development and agribusiness company’s stock valued at $34,170,000 after purchasing an additional 14,767 shares during the period. Horizon Kinetics Asset Management LLC raised its position in shares of Tejon Ranch by 99.9% in the second quarter. Horizon Kinetics Asset Management LLC now owns 1,647,497 shares of the real estate development and agribusiness company’s stock valued at $27,942,000 after purchasing an additional 823,435 shares during the period. Nitor Capital Management LLC bought a new position in Tejon Ranch in the 4th quarter worth approximately $21,227,000. Gamco Investors INC. ET AL raised its holdings in Tejon Ranch by 1.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 732,827 shares of the real estate development and agribusiness company’s stock valued at $12,429,000 after acquiring an additional 7,900 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Tejon Ranch by 4.4% in the second quarter. Geode Capital Management LLC now owns 580,079 shares of the real estate development and agribusiness company’s stock valued at $9,840,000 after purchasing an additional 24,268 shares in the last quarter. Institutional investors own 60.63% of the company’s stock.

Tejon Ranch Company Profile

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.