Stifel Nicolaus Downgrades CatchMark Timber Trust (NYSE:CTT) to Hold

CatchMark Timber Trust (NYSE:CTTGet Rating) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Wednesday, The Fly reports.

A number of other equities analysts have also weighed in on the stock. StockNews.com began coverage on shares of CatchMark Timber Trust in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James raised shares of CatchMark Timber Trust from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Robert W. Baird raised shares of CatchMark Timber Trust from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $9.00 to $10.00 in a research report on Monday, April 11th. Finally, Zacks Investment Research cut shares of CatchMark Timber Trust from a “buy” rating to a “hold” rating in a research report on Monday, May 16th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, CatchMark Timber Trust has a consensus rating of “Hold” and a consensus target price of $10.35.

Shares of NYSE CTT opened at $11.79 on Wednesday. The firm has a market cap of $580.66 million, a PE ratio of 9.14 and a beta of 1.12. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.48. CatchMark Timber Trust has a 1-year low of $7.18 and a 1-year high of $12.57. The company has a fifty day moving average price of $8.29 and a 200 day moving average price of $8.22.

CatchMark Timber Trust (NYSE:CTTGet Rating) last announced its earnings results on Thursday, May 5th. The financial services provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. CatchMark Timber Trust had a net margin of 61.12% and a return on equity of 37.28%. During the same period last year, the firm posted ($0.01) earnings per share. Equities research analysts forecast that CatchMark Timber Trust will post -0.08 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of CatchMark Timber Trust by 492.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 414,799 shares of the financial services provider’s stock valued at $3,401,000 after purchasing an additional 344,796 shares during the period. Invesco Ltd. raised its holdings in shares of CatchMark Timber Trust by 17.8% in the 1st quarter. Invesco Ltd. now owns 122,374 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 18,521 shares during the period. UBS Group AG raised its holdings in shares of CatchMark Timber Trust by 70.4% in the 1st quarter. UBS Group AG now owns 90,475 shares of the financial services provider’s stock valued at $742,000 after purchasing an additional 37,373 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of CatchMark Timber Trust by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 127,683 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 3,584 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in shares of CatchMark Timber Trust by 71.4% in the 1st quarter. Moors & Cabot Inc. now owns 22,800 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 9,500 shares during the period. 79.43% of the stock is currently owned by institutional investors.

About CatchMark Timber Trust (Get Rating)

CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory.

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