Scotiabank Has Lowered Expectations for Americold Realty Trust (NYSE:COLD) Stock Price

Americold Realty Trust (NYSE:COLD) had its price target trimmed by Scotiabank from $31.00 to $27.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other brokerages have also weighed in on COLD. Robert W. Baird reduced their price objective on Americold Realty Trust from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Citigroup decreased their price objective on Americold Realty Trust from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, December 4th. Truist Financial dropped their price objective on shares of Americold Realty Trust from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Barclays reduced their target price on shares of Americold Realty Trust from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Finally, Royal Bank of Canada reduced their target price on shares of Americold Realty Trust from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Americold Realty Trust has an average rating of “Moderate Buy” and an average price target of $29.17.

Americold Realty Trust Stock Performance

COLD stock opened at $22.49 on Tuesday. The firm has a market cap of $6.39 billion, a PE ratio of -22.27, a P/E/G ratio of 1.83 and a beta of 0.59. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $24.60 and a 200-day moving average of $26.71. Americold Realty Trust has a 12-month low of $21.53 and a 12-month high of $30.92.

Americold Realty Trust (NYSE:COLD) last released its earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.35). The business had revenue of $674.17 million during the quarter, compared to the consensus estimate of $663.87 million. Americold Realty Trust had a negative net margin of 10.63% and a negative return on equity of 8.08%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, sell-side analysts expect that Americold Realty Trust will post 1.38 earnings per share for the current year.

Insider Activity

In related news, SVP Robert E. Harris sold 1,836 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $22.64, for a total value of $41,567.04. Following the sale, the senior vice president now directly owns 1,837 shares of the company’s stock, valued at $41,589.68. This trade represents a 49.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Americold Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of COLD. FMR LLC raised its stake in Americold Realty Trust by 40.8% in the third quarter. FMR LLC now owns 13,261,431 shares of the company’s stock valued at $374,901,000 after purchasing an additional 3,844,603 shares in the last quarter. Principal Financial Group Inc. raised its stake in Americold Realty Trust by 30.8% in the second quarter. Principal Financial Group Inc. now owns 15,300,802 shares of the company’s stock valued at $390,783,000 after purchasing an additional 3,602,337 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in Americold Realty Trust by 2,542.7% during the second quarter. Deprince Race & Zollo Inc. now owns 1,712,317 shares of the company’s stock valued at $43,733,000 after acquiring an additional 1,647,522 shares during the last quarter. Darlington Partners Capital Management LP grew its position in Americold Realty Trust by 15.1% during the second quarter. Darlington Partners Capital Management LP now owns 9,018,040 shares of the company’s stock valued at $230,321,000 after acquiring an additional 1,183,571 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Americold Realty Trust by 2,175.4% during the second quarter. AQR Capital Management LLC now owns 1,087,628 shares of the company’s stock valued at $27,071,000 after acquiring an additional 1,039,828 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

About Americold Realty Trust

Americold is a global leader in temperature-controlled logistics real estate and value added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 245 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America.