Zacks Investment Research upgraded shares of Gray Television (NYSE:GTN) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $19.00 price target on the stock.

According to Zacks, “Gray Television is a communications company headquartered in Atlanta, Georgia, and currently operates 15 CBS-affiliated television stations, seven NBC-affiliated television stations, seven ABC-affiliated television stations and four daily newspapers. “

A number of other analysts have also weighed in on the company. Benchmark restated a buy rating on shares of Gray Television in a research note on Thursday, May 9th. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a research note on Thursday, June 27th. Barrington Research set a $22.00 target price on The Hackett Group and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, TheStreet lowered TIM Participacoes from a b rating to a c+ rating in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $24.80.

Shares of NYSE GTN opened at $18.40 on Tuesday. The company has a market capitalization of $1.80 billion, a PE ratio of 7.57, a PEG ratio of 1.95 and a beta of 1.99. The firm’s fifty day moving average is $16.94. Gray Television has a 52-week low of $13.75 and a 52-week high of $25.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.51 and a current ratio of 2.51.

Gray Television (NYSE:GTN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.31) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.13. Gray Television had a return on equity of 20.34% and a net margin of 12.56%. The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $498.41 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 129.2% compared to the same quarter last year. Equities analysts forecast that Gray Television will post 0.91 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC acquired a new stake in Gray Television in the first quarter worth about $35,000. Global Retirement Partners LLC grew its position in shares of Gray Television by 342.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,783 shares of the company’s stock worth $26,000 after buying an additional 1,380 shares during the period. NumerixS Investment Technologies Inc acquired a new position in shares of Gray Television during the 4th quarter worth about $110,000. Welch Group LLC acquired a new position in shares of Gray Television during the 1st quarter worth about $214,000. Finally, SG Americas Securities LLC acquired a new position in shares of Gray Television during the 1st quarter worth about $220,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Further Reading: Forex

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