Wolfe Research Upgrades Americold Realty Trust, Projects 19.15% Upside in Share Price

Wolfe Research has upgraded Americold Realty Trust (NYSE:COLD) from Peer Perform to Outperform, suggesting a 19.15% potential increase from the current average price target of $30.43/share. The upgrade comes amid a projected 23.13% annual revenue growth and a 0.23 projected annual non-GAAP EPS. Institutional ownership has decreased slightly, while funds have increased their allocation by 13.87%. The put/call ratio indicates a bearish sentiment.

Americold Realty Trust (NYSE: COLD), a leading cold storage logistics company, recently received a positive update from Wolfe Research. The investment firm upgraded its rating on COLD from Peer Perform to Outperform, suggesting a potential increase of 19.15% from the current average price target of $30.43/share [1]. This upgrade comes amid a projected 23.13% annual revenue growth and a 0.23 projected annual non-GAAP EPS.

The upgrade by Wolfe Research reflects the growing optimism surrounding Americold Realty Trust's business prospects. The company's revenue growth is expected to be driven by the increasing demand for cold storage services, particularly in the food and pharmaceutical industries. Furthermore, the company's focus on expanding its global footprint and enhancing its operational efficiency is expected to contribute to its profitability.

Institutional ownership of Americold Realty Trust has seen a slight decrease in recent quarters, while funds have increased their allocation by 13.87% [1]. This trend reflects the growing interest in the company among institutional investors. Notably, Cohen & Steers, APG Asset Management US, Principal Financial Group, VGSIX, and VTSMX are among the top institutional investors in Americold Realty Trust, collectively owning approximately 26.4% of the company's shares [1].

Despite the positive outlook, the put/call ratio for Americold Realty Trust currently stands at 1.77, indicating a bearish sentiment among some investors [1]. However, this sentiment appears to be outweighed by the growing optimism among institutional investors and the positive outlook from Wolfe Research.

In conclusion, the upgrade of Americold Realty Trust from Wolfe Research highlights the growing optimism surrounding the company's business prospects. With a projected 23.13% annual revenue growth and a 0.23 projected annual non-GAAP EPS, the company is well-positioned for continued growth and success in the cold storage logistics industry.

[1] Sources:
https://www.nasdaq.com/articles/wolfe-research-upgrades-americold-realty-trust-cold
https://finviz.com/quote.ashx?t=COLD&ft=1y&f=avgpt
https://fintel.io/so/nasdaq/COLD/institutional-holdings
https://www.nasdaq.com/symbol/cold/institutional-ownership-report