TEGNA (NYSE:TGNA) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of TEGNA (NYSE:TGNA) from a hold rating to a buy rating in a research report released on Friday.

A number of other brokerages have also issued reports on TGNA. JPMorgan Chase & Co. raised their target price on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Benchmark increased their price objective on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

TEGNA Trading Up 0.2 %

Shares of TEGNA stock opened at $17.68 on Friday. TEGNA has a 12-month low of $12.35 and a 12-month high of $19.62. The stock has a market cap of $2.85 billion, a PE ratio of 6.25 and a beta of 0.49. The company has a 50-day moving average of $16.13 and a two-hundred day moving average of $14.99. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07.

TEGNA (NYSE:TGNA) last announced 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. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The company had revenue of $806.83 million during the quarter, compared to analysts’ expectations of $795.72 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that TEGNA will post 3.02 EPS for the current fiscal year.

Insider Transactions at TEGNA

In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were 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 in the company, valued at approximately $2,535,718.80. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On TEGNA

Several institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in TEGNA during the 3rd quarter valued at $28,000. Headlands Technologies LLC acquired a new position in TEGNA in the first quarter worth $46,000. CWM LLC boosted its holdings in shares of TEGNA by 146.3% in the 2nd quarter. CWM LLC now owns 4,614 shares of the company’s stock valued at $64,000 after buying an additional 2,741 shares during the period. Quarry LP grew its holdings in shares of TEGNA by 455.2% during the third quarter. Quarry LP now owns 4,025 shares of the company’s stock valued at $64,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in TEGNA by 247.8% during the 2nd quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after buying an additional 3,350 shares during the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.

About TEGNA

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.