New York Times (NYSE:NYT) Given New $53.00 Price Target at Evercore ISI

New York Times (NYSE:NYT) had its price objective raised by investment analysts at Evercore ISI from $50.00 to $53.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 11.16% from the stock’s current price.

NYT has been the topic of a number of other research reports. Citigroup began coverage on New York Times in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, March 4th. Finally, StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

New York Times Stock Down 0.1 %

NYSE:NYT traded down $0.06 during mid-day trading on Thursday, reaching $47.68. 564,285 shares of the company were exchanged, compared to its average volume of 1,275,821. The stock has a market cap of $7.82 billion, a PE ratio of 34.14 and a beta of 1.00. The company has a fifty day moving average of $43.49 and a 200 day moving average of $44.89. New York Times has a 12 month low of $35.06 and a 12 month high of $49.87.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.11. The company had revenue of $594.00 million during the quarter, compared to analyst estimates of $591.97 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. On average, equities research analysts anticipate that New York Times will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at New York Times

In other news, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the sale, the chief executive officer now owns 90,759 shares in the company, valued at approximately $4,003,379.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director David S. Perpich sold 3,014 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the transaction, the director now directly owns 20,813 shares in the company, valued at approximately $916,396.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the sale, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,557 shares of company stock worth $1,029,968. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NYT. Norges Bank purchased a new stake in shares of New York Times in the 4th quarter worth $89,754,000. Qube Research & Technologies Ltd raised its stake in New York Times by 232.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,038,033 shares of the company’s stock worth $42,767,000 after acquiring an additional 726,231 shares during the period. Franklin Resources Inc. lifted its holdings in New York Times by 15.7% during the fourth quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock valued at $146,844,000 after purchasing an additional 406,958 shares in the last quarter. Junto Capital Management LP bought a new position in shares of New York Times in the fourth quarter worth approximately $18,255,000. Finally, Gradient Investments LLC bought a new stake in shares of New York Times during the 1st quarter valued at $15,190,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.