StockNews.com Upgrades TEGNA (NYSE:TGNA) to “Buy”

StockNews.com upgraded shares of TEGNA (NYSE:TGNA) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

TGNA has been the topic of several other reports. Benchmark boosted their target price on TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

TEGNA Stock Up 0.2 %

NYSE TGNA opened at $17.68 on Friday. The business has a fifty day moving average price of $16.13 and a 200 day moving average price of $14.99. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market cap of $2.85 billion, a P/E ratio of 6.25 and a beta of 0.49. TEGNA has a one year low of $12.35 and a one year high of $19.62.

TEGNA (NYSE:TGNA) last released its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $806.83 million during the quarter, compared to analyst estimates of $795.72 million. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Research analysts anticipate that TEGNA will post 3.02 EPS for the current fiscal year.

Insider Transactions at TEGNA

In other news, COO Lynn B. Trelstad sold 25,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the transaction, the chief operating officer now owns 154,617 shares of the company’s stock, valued at $2,535,718.80. This represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Institutional Trading of TEGNA

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new position in TEGNA during the third quarter worth $28,000. Headlands Technologies LLC purchased a new position in shares of TEGNA during the first quarter worth about $46,000. Quarry LP boosted its holdings in shares of TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after acquiring an additional 3,300 shares during the period. US Bancorp DE boosted its stake in TEGNA by 20.4% during the 3rd quarter. US Bancorp DE now owns 4,503 shares of the company’s stock worth $71,000 after purchasing an additional 764 shares during the period. Finally, CWM LLC boosted its stake in shares of TEGNA by 146.3% during the second quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after buying an additional 2,741 shares during the period. 92.19% of the stock is owned by institutional investors and hedge funds.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.