Bank of America Downgrades Americold Realty Trust (NYSE:COLD) to Underperform

Americold Realty Trust (NYSE:COLD) was downgraded by stock analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Thursday, Marketbeat reports. They presently have a $13.00 target price on the stock. Bank of America‘s price objective indicates a potential upside of 2.52% from the stock’s previous close.

COLD has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price objective on Americold Realty Trust from $15.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, November 14th. UBS Group upped their price target on shares of Americold Realty Trust from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Zacks Research upgraded shares of Americold Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Evercore lowered their price objective on shares of Americold Realty Trust from $14.00 to $13.00 and set an “in-line” rating on the stock in a research note on Monday, December 22nd. Finally, Citigroup cut their target price on shares of Americold Realty Trust from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Americold Realty Trust presently has an average rating of “Hold” and an average target price of $13.85.

Americold Realty Trust Trading Up 1.4%

Americold Realty Trust stock opened at $12.68 on Thursday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -57.64, a P/E/G ratio of 4.44 and a beta of 0.91. The firm has a 50-day moving average of $12.58 and a 200-day moving average of $13.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.11 and a quick ratio of 0.11. Americold Realty Trust has a one year low of $10.10 and a one year high of $23.52.

Americold Realty Trust (NYSE:COLD) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $663.67 million during the quarter, compared to analysts’ expectations of $659.51 million. Americold Realty Trust had a negative return on equity of 1.96% and a negative net margin of 2.39%.The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Americold Realty Trust will post 1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Americold Realty Trust

A number of institutional investors have recently modified their holdings of COLD. EverSource Wealth Advisors LLC increased its position in Americold Realty Trust by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,781 shares of the company’s stock worth $36,000 after acquiring an additional 1,432 shares during the period. Covestor Ltd grew its position in shares of Americold Realty Trust by 70.7% during the 4th quarter. Covestor Ltd now owns 8,756 shares of the company’s stock worth $113,000 after purchasing an additional 3,628 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Americold Realty Trust by 164.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 18,190 shares of the company’s stock worth $234,000 after purchasing an additional 11,322 shares during the period. Handelsbanken Fonder AB raised its position in shares of Americold Realty Trust by 74.5% in the fourth quarter. Handelsbanken Fonder AB now owns 136,800 shares of the company’s stock valued at $1,759,000 after buying an additional 58,400 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Americold Realty Trust in the fourth quarter valued at approximately $20,417,000. Institutional investors own 98.14% of the company’s stock.

About Americold Realty Trust

Americold Realty Trust is a real estate investment trust specializing in temperature-controlled warehousing and logistics solutions. The company owns, operates, and develops a global network of cold storage facilities designed to support the storage, handling, and distribution of perishable products. Services include blast freezing, repacking, labeling, cross-docking, and transportation management, all integrated to streamline clients’ cold chain operations and help ensure product quality and safety from origin to point of consumption.

With roots dating back to the early 20th century, Americold has expanded through strategic acquisitions and facility development to become one of the world’s largest publicly traded cold storage providers.