COLD Shares Plunge 3.37% After RBC, Barclays Cut Targets Over Weak Demand, EBITDA Drop

The share price dropped to a record low today, with an intraday decline of 3.37%.

Analysts at RBC Capital Markets and others downgraded Americold Realty Trust (COLD) following concerns over macroeconomic headwinds and weak consumer demand for cold storage services. RBC cut its price target from $17 to $13 on November 7, 2025, while Barclays and Keybanc also reduced their targets. The company’s Q3 2025 results showed a 1.6% year-over-year revenue decline in its Global Warehouse segment, with core EBITDA falling 5.7% to $148.3 million. Analysts cited soft frozen and refrigerated retail sales and margin compression as key factors.

Despite the downgrades, COLD maintains a global logistics network spanning the U.S., Europe, and Asia-Pacific. The firm reaffirmed 2025 guidance, projecting same-store revenue growth between 0.0% and -4.0%. Strategic moves include cautious capital spending and potential asset sales to manage leverage. While the stock faces near-term risks from prolonged demand weakness, its high dividend yield and long-term market position as the second-largest temperature-controlled warehouse operator offer resilience. Analysts remain divided, with a 37.85% average price target upside, though mixed sentiment highlights ongoing uncertainty.