Potlatch (PCH) Rating Increased to Outperform at Raymond James Financial

Potlatch (NASDAQ:PCH) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has a $54.00 price objective on the real estate investment trust’s stock. Raymond James Financial’s price objective would indicate a potential upside of 7.25% from the company’s previous close.

A number of other equities research analysts also recently issued reports on PCH. Vertical Research downgraded Potlatch from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub downgraded Potlatch from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Bank of America boosted their price target on Potlatch from $50.00 to $54.00 and gave the company an “underperform” rating in a research report on Wednesday, October 25th. BMO Capital Markets reissued a “hold” rating on shares of Potlatch in a research report on Monday, October 23rd. Finally, Zacks Investment Research downgraded Potlatch from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $49.67.

Potlatch (NASDAQ PCH) traded down $1.20 during trading on Monday, reaching $50.35. The company had a trading volume of 662,400 shares, compared to its average volume of 635,067. The firm has a market capitalization of $2,090.00, a price-to-earnings ratio of 23.31, a P/E/G ratio of 3.79 and a beta of 1.44. Potlatch has a 52-week low of $39.05 and a 52-week high of $56.35. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.17 and a quick ratio of 1.72.

Potlatch (NASDAQ:PCH) last released its earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The firm had revenue of $190.40 million during the quarter, compared to analyst estimates of $187.29 million. Potlatch had a return on equity of 54.42% and a net margin of 13.54%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. equities research analysts forecast that Potlatch will post 2.39 EPS for the current fiscal year.

In other news, VP William R. Dereu sold 4,720 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $52.50, for a total value of $247,800.00. Following the completion of the sale, the vice president now owns 26,142 shares of the company’s stock, valued at $1,372,455. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of Potlatch in the third quarter worth about $429,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Potlatch in the third quarter worth about $142,000. California Public Employees Retirement System boosted its position in shares of Potlatch by 3.2% in the third quarter. California Public Employees Retirement System now owns 111,612 shares of the real estate investment trust’s stock worth $5,692,000 after buying an additional 3,512 shares during the period. Convergence Investment Partners LLC purchased a new stake in shares of Potlatch in the third quarter worth about $1,343,000. Finally, Invictus RG boosted its position in shares of Potlatch by 188.9% in the third quarter. Invictus RG now owns 7,009 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 4,583 shares during the period. 84.79% of the stock is owned by institutional investors.

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About Potlatch

Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.

Analyst Recommendations for Potlatch (NASDAQ:PCH)

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