Potlatch Corporation (PCH) was Downgraded by DA Davidson to ” Neutral” while Lowering the Price Target of the company shares to $ 40 from a previous price target of $56 . Earlier the firm had a rating of “Buy ” on the company shares. DA Davidson advised their investors in a research report released on Jul 27, 2016.
Many Wall Street Analysts have commented on Potlatch Corporation. Company shares were Reiterated by RBC Capital Mkts on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 45 from a previous price target of $42 .
On the company’s financial health, Potlatch Corporation reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.07. The company had revenue of $141.50 million for the quarter, compared to analysts expectations of $135.32 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Potlatch Corporation opened for trading at $37.02 and hit $38.2 on the upside on Thursday, eventually ending the session at $38, with a gain of 2.65% or 0.98 points. The heightened volatility saw the trading volume jump to 2,46,246 shares. Company has a market cap of $1,540 M.
In a different news, on Feb 3, 2016, Larry Peiros (director) purchased 5,000 shares at $28.00 per share price. According to the SEC, on Feb 2, 2016, Boh A Dickey (director) purchased 5,000 shares at $28.68 per share price. On Aug 3, 2015, John S Moody (director) purchased 10,000 shares at $35.04 per share price, according to the Form-4 filing with the securities and exchange commission.
Potlatch Corporation is a real estate investment trust (REIT). The Company owns approximately 1.6 million acres of timberlands in Alabama Arkansas Idaho Minnesota and Mississippi. The Company operates in three business segments: Resource Wood Products and Real Estate. The Resource segment manages the Company’s timberlands. Its Wood Products segment manufactures and markets lumber and plywood. The business of its Real Estate segment consists primarily of the sale of selected non-core timberland real estate which consists of three categories of property: higher and better use (HBU) rural real estate and non-strategic The Real Estate segment is engaged in real estate sales subdivision and development activities through Potlatch TRS. The Company through its wholly owned subsidiaries operates real estate sales and development business and five wood products manufacturing facilities that produce lumber and plywood.