Scotiabank Raises Americold Realty Trust (NYSE:COLD) Price Target to $28.00

Americold Realty Trust (NYSE:COLD) had its target price lifted by equities researchers at Scotiabank from $27.00 to $28.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 27.77% from the stock’s current price.

A number of other brokerages also recently issued reports on COLD. Truist Financial lowered their price objective on Americold Realty Trust from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Barclays reduced their target price on Americold Realty Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Citigroup cut their price objective on shares of Americold Realty Trust from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, December 4th. Royal Bank of Canada dropped their price target on shares of Americold Realty Trust from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Finally, Raymond James lowered their price target on Americold Realty Trust from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.25.

Americold Realty Trust Price Performance

NYSE:COLD traded down $0.77 during trading hours on Monday, reaching $21.92. 1,280,793 shares of the company were exchanged, compared to its average volume of 2,254,862. The company has a market capitalization of $6.23 billion, a P/E ratio of -64.45, a P/E/G ratio of 1.66 and a beta of 0.57. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.15 and a quick ratio of 0.15. Americold Realty Trust has a 1-year low of $20.41 and a 1-year high of $30.45. The business has a 50 day moving average of $21.74 and a 200 day moving average of $24.31.

Americold Realty Trust (NYSE:COLD) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.27. The company had revenue of $666.44 million for the quarter, compared to analysts’ expectations of $684.03 million. Americold Realty Trust had a negative net margin of 3.54% and a negative return on equity of 2.70%. Research analysts forecast that Americold Realty Trust will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cohen & Steers Inc. boosted its holdings in shares of Americold Realty Trust by 16.3% in the 4th quarter. Cohen & Steers Inc. now owns 28,837,300 shares of the company’s stock valued at $617,085,000 after purchasing an additional 4,049,374 shares during the last quarter. Norges Bank bought a new position in Americold Realty Trust during the 4th quarter valued at $478,674,000. FMR LLC lifted its position in shares of Americold Realty Trust by 0.9% during the fourth quarter. FMR LLC now owns 13,382,883 shares of the company’s stock worth $286,394,000 after purchasing an additional 121,452 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Americold Realty Trust by 115.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 6,387,738 shares of the company’s stock worth $136,698,000 after acquiring an additional 3,427,083 shares in the last quarter. Finally, PGGM Investments boosted its holdings in Americold Realty Trust by 13.4% in the fourth quarter. PGGM Investments now owns 5,558,936 shares of the company’s stock worth $118,961,000 after purchasing an additional 655,782 shares during the period. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Americold Realty Trust Company Profile

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm’s real estate portfolio.