AmeriCold Realty Trust (NYSE:COLD) Trading Down 5.6% Following Weak Earnings

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Shares of AmeriCold Realty Trust (NYSE:COLD) dropped 5.6% on Friday following a weaker than expected earnings announcement. The company traded as low as $34.85 and last traded at $35.35, approximately 5,221,707 shares were traded during trading. An increase of 145% from the average daily volume of 2,129,876 shares. The stock had previously closed at $37.44.

The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.17). AmeriCold Realty Trust had a return on equity of 2.77% and a net margin of 1.67%. The company had revenue of $466.18 million during the quarter, compared to analysts’ expectations of $452.64 million. During the same period last year, the firm posted $0.27 EPS. AmeriCold Realty Trust’s quarterly revenue was up 16.0% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, September 27th. AmeriCold Realty Trust’s payout ratio is 67.80%.

A number of equities research analysts recently issued reports on COLD shares. JPMorgan Chase & Co. upped their price target on shares of AmeriCold Realty Trust from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. TheStreet raised shares of AmeriCold Realty Trust from a “d” rating to a “c” rating in a research note on Friday, August 9th. Zacks Investment Research downgraded shares of AmeriCold Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Bank of America reaffirmed a “buy” rating and set a $37.00 price target on shares of AmeriCold Realty Trust in a research note on Thursday, August 15th. Finally, Robert W. Baird upped their price target on shares of AmeriCold Realty Trust from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $37.19.

In other news, Director Kelly Hefner Barrett acquired 6,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $34.96 per share, for a total transaction of $209,760.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Huntington National Bank bought a new position in shares of AmeriCold Realty Trust in the second quarter worth about $28,000. Rehmann Capital Advisory Group grew its holdings in AmeriCold Realty Trust by 316.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 958 shares of the company’s stock worth $31,000 after acquiring an additional 728 shares in the last quarter. QCI Asset Management Inc. NY bought a new position in AmeriCold Realty Trust during the 2nd quarter worth about $54,000. Price Capital Management Inc. bought a new position in AmeriCold Realty Trust during the 3rd quarter worth about $63,000. Finally, Optimum Investment Advisors bought a new position in AmeriCold Realty Trust during the 3rd quarter worth about $74,000.

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The company’s fifty day simple moving average is $37.82 and its 200-day simple moving average is $34.64. The company has a market capitalization of $6.90 billion, a P/E ratio of 29.96, a PEG ratio of 3.12 and a beta of 0.67.

About AmeriCold Realty Trust (NYSE:COLD)

Americold is the world's largest owner and operator of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 155 temperature-controlled warehouses, with approximately 918.7 million refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina.

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