USA Today (NYSE:TDAY) Shares Climb 6% – Time to Buy?

USA Today Co. (NYSE:TDAY)’s share price rose 6% during trading on Tuesday. The company traded as high as $7.32 and last traded at $7.29. 1,628,616 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 1,933,442 shares. The stock had previously closed at $6.88.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TDAY. Citizens Jmp upped their target price on USA Today from $8.00 to $10.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 14th. Wall Street Zen cut shares of USA Today from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Citigroup reissued a “neutral” rating on shares of USA Today in a report on Monday, August 24th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price objective on shares of USA Today in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of USA Today from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, USA Today currently has a consensus rating of “Hold” and a consensus price target of $9.03.

USA Today Stock Performance

The firm has a market cap of $1.07 billion, a PE ratio of -24.30 and a beta of 1.40. The firm has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $7.42. The company has a quick ratio of 0.78, a current ratio of 0.81 and a debt-to-equity ratio of 5.74.

Institutional Investors Weigh In On USA Today

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Seas Capital LP purchased a new stake in USA Today during the 2nd quarter valued at about $120,301,000. BlackRock Inc. purchased a new position in USA Today in the 2nd quarter worth approximately $89,866,000. SG Americas Securities LLC acquired a new position in shares of USA Today during the 1st quarter worth approximately $35,972,000. Bank of America Corp DE acquired a new position in shares of USA Today during the 2nd quarter worth approximately $29,881,000. Finally, Miller Value Partners LLC purchased a new stake in shares of USA Today in the fourth quarter valued at approximately $17,527,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

About USA Today

Gannett Co Inc invests in, owns, and operates local media assets in the United States. The company’s principal products include 125 daily newspapers with total paid circulation of approximately 1.4 million; 314 weekly newspapers with total paid circulation of approximately 315,000 and total free circulation of approximately 1.9 million; 124 shoppers with total circulation of approximately 3.0 million; and 538 locally-focused Websites, including Internet and mobile devices with approximately 224 million page views per month.