USA Today (NYSE:TDAY) Sets New 1-Year High – Here’s Why

USA Today Co. (NYSE:TDAY)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $8.31 and last traded at $8.30, with a volume of 359773 shares changing hands. The stock had previously closed at $7.94.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen downgraded USA Today from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of USA Today in a research note on Thursday, June 4th. Weiss Ratings lowered shares of USA Today from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. New Street Research set a $8.05 price objective on shares of USA Today in a research note on Friday, June 5th. Finally, Citigroup raised their price objective on shares of USA Today from $6.75 to $8.05 and gave the stock a “neutral” rating in a report on Friday, June 5th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.53.

USA Today Price Performance

The firm has a market cap of $1.22 billion, a PE ratio of 138.86 and a beta of 1.42. The firm’s fifty day simple moving average is $7.63 and its two-hundred day simple moving average is $6.47. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 6.33.

USA Today (NYSE:TDAY) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.17. USA Today had a net margin of 1.27% and a return on equity of 21.75%. The firm had revenue of $548.49 million during the quarter, compared to analysts’ expectations of $562.00 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was down 4.0 compared to the same quarter last year.

Institutional Investors Weigh In On USA Today

A number of institutional investors and hedge funds have recently bought and sold shares of TDAY. Verus Capital Partners LLC purchased a new position in shares of USA Today in the first quarter valued at about $80,000. Quantinno Capital Management LP grew its position in shares of USA Today by 25.9% during the first quarter. Quantinno Capital Management LP now owns 34,152 shares of the company’s stock worth $241,000 after purchasing an additional 7,022 shares in the last quarter. FourWorld Capital Management LLC bought a new stake in USA Today during the 1st quarter valued at approximately $6,194,000. Arrowstreet Capital Limited Partnership bought a new stake in USA Today during the 1st quarter valued at approximately $1,532,000. Finally, Sei Investments Co. purchased a new position in USA Today in the 1st quarter worth approximately $130,000. 76.71% of the stock is owned by institutional investors.

USA Today Company Profile

Gannett Co, Inc (NYSE: GCI) is a media and marketing solutions company headquartered in McLean, Virginia. As the largest U.S. newspaper publisher by circulation, Gannett publishes USA Today alongside more than 260 local news brands. The company’s multimedia platforms include daily and weekly newspapers, websites, mobile apps and a network of subscription-based digital products.

In addition to journalism and content production, Gannett offers a suite of digital marketing services designed to help small and medium-sized businesses grow online.