Consolidated-Tomoka Land (CTO) Upgraded to Buy at Zacks Investment Research

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $73.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.41% from the company’s current price.

According to Zacks, “Consolidated-Tomoka Land Co. is primarily engaged in the real estate industry through its wholly owned subsidiaries. Real estate operations include commercial real estate, real estate development, residential and golf operations, property leasing, leasing properties for oil and mineral exploration and the sale of forest products. “

A number of other brokerages have also weighed in on CTO. BidaskClub raised shares of Consolidated-Tomoka Land from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. FBR & Co reaffirmed a “buy” rating on shares of Consolidated-Tomoka Land in a research note on Thursday, October 19th. Finally, B. Riley reaffirmed a “buy” rating on shares of Consolidated-Tomoka Land in a research note on Wednesday, November 1st.

Consolidated-Tomoka Land (CTO) traded up $1.23 during mid-day trading on Monday, hitting $66.72. 31,484 shares of the company’s stock were exchanged, compared to its average volume of 18,400. Consolidated-Tomoka Land has a 12-month low of $49.73 and a 12-month high of $66.75. The stock has a market capitalization of $369.79, a PE ratio of 16.64 and a beta of 1.14.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). Consolidated-Tomoka Land had a net margin of 7.81% and a return on equity of 2.43%. The firm had revenue of $12.38 million during the quarter, compared to analysts’ expectations of $15.03 million.

In other news, CEO John P. Albright sold 1,453 shares of Consolidated-Tomoka Land stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $62.87, for a total transaction of $91,350.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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About Consolidated-Tomoka Land

Consolidated-Tomoka Land Co is a real estate operating company. As of December 31, 2016, the Company owned and managed 31 commercial real estate properties in 10 states in the United States. Its segments include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other.

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