Tejon Ranch Price Target Raised to $34.00 at Stifel Nicolaus

By Egypt Independent

Tejon Ranch (NYSE:TRC) had its price target boosted by equities researchers at Stifel Nicolaus from $32.00 to $34.00 in a research report issued on Thursday, August 2nd. The firm currently has a buy rating on the real estate development and agribusiness companys stock. Stifel Nicolaus price objective indicates a potential upside of 53.99% from the stocks current price.

Tejon Ranch stock opened at $22.08 on Thursday. The company has a market cap of $580.73 million, a price-to-earnings ratio of 745.67 and a beta of 1.18. Tejon Ranch has a 52-week low of $18.59 and a 52-week high of $26.25. The company has a current ratio of 8.13, a quick ratio of 7.49 and a debt-to-equity ratio of 0.15.

Tejon Ranch (NYSE:TRC) last posted its quarterly earnings results on Tuesday, August 7th. The real estate development and agribusiness company reported ($0.04) earnings per share (EPS) for the quarter. Tejon Ranch had a return on equity of 0.19% and a net margin of 1.85%. The business had revenue of $5.07 million for the quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRC. BlackRock Inc. raised its position in Tejon Ranch by 24.5% in the 4th quarter. BlackRock Inc. now owns 1,260,026 shares of the real estate development and agribusiness companys stock valued at $26,159,000 after buying an additional 248,224 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Tejon Ranch by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,316,795 shares of the real estate development and agribusiness companys stock valued at $31,998,000 after buying an additional 157,090 shares during the last quarter. Deutsche Bank AG raised its position in Tejon Ranch by 151.2% in the 4th quarter. Deutsche Bank AG now owns 131,977 shares of the real estate development and agribusiness companys stock valued at $2,738,000 after buying an additional 79,435 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Tejon Ranch in the 4th quarter valued at $1,281,000. Finally, Renaissance Technologies LLC raised its position in Tejon Ranch by 91.2% in the 4th quarter. Renaissance Technologies LLC now owns 110,899 shares of the real estate development and agribusiness companys stock valued at $2,302,000 after buying an additional 52,899 shares during the last quarter. 72.01% of the stock is owned by institutional investors and hedge funds.

This article provided by NewsEdge.