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

TEGNA (NYSE:TGNA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

TGNA has been the subject of a number of other reports. Benchmark upped their price target on shares of TEGNA from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday.

TEGNA Trading Down 2.6 %

Shares of TGNA stock traded down $0.47 during mid-day trading on Friday, hitting $17.64. 1,814,059 shares of the company’s stock were exchanged, compared to its average volume of 2,250,921. The stock has a 50-day simple moving average of $16.05 and a two-hundred day simple moving average of $14.95. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.07. TEGNA has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 6.23 and a beta of 0.49.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $806.83 million for 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%. TEGNA’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. Equities analysts expect that TEGNA will post 3.08 EPS for the current fiscal year.

Insider Transactions at TEGNA

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TGNA. Miller Howard Investments Inc. NY boosted its holdings in shares of TEGNA by 1.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 42,031 shares of the company’s stock worth $586,000 after buying an additional 726 shares during the period. US Bancorp DE lifted its position 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 acquiring an additional 764 shares during the last quarter. Manchester Financial Inc. boosted its holdings in TEGNA by 0.9% during the second quarter. Manchester Financial Inc. now owns 118,202 shares of the company’s stock valued at $1,648,000 after acquiring an additional 1,047 shares during the period. O Keefe Stevens Advisory Inc. grew its position in shares of TEGNA by 7.4% in the second quarter. O Keefe Stevens Advisory Inc. now owns 16,024 shares of the company’s stock valued at $223,000 after purchasing an additional 1,099 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of TEGNA by 3.0% in the first quarter. ProShare Advisors LLC now owns 45,113 shares of the company’s stock worth $674,000 after purchasing an additional 1,306 shares during the period. Institutional investors and hedge funds own 92.19% of the company’s stock.

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.