TEGNA (NYSE:TGNA) Upgraded at StockNews.com

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

Other research analysts have also recently issued research reports about the company. Benchmark boosted their price objective on 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. boosted their price target on shares of TEGNA from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th.

TEGNA Stock Down 0.9 %

Shares of TGNA traded down $0.16 on Friday, reaching $18.50. The company’s stock had a trading volume of 1,174,298 shares, compared to its average volume of 2,178,333. TEGNA has a twelve month low of $12.35 and a twelve month high of $19.62. The stock has a market capitalization of $2.98 billion, a PE ratio of 6.54 and a beta of 0.52. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average of $17.52 and a 200-day moving average of $15.49.

TEGNA (NYSE:TGNA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. TEGNA had a net margin of 16.75% and a return on equity of 14.49%. The business had revenue of $806.83 million during the quarter, compared to the consensus estimate of $795.72 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that TEGNA will post 3.02 EPS for the current year.

Insider Buying and Selling

In other TEGNA news, COO Lynn B. Trelstad sold 25,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the transaction, the chief operating officer now owns 154,617 shares in the company, valued at approximately $2,535,718.80. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by insiders.

Institutional Trading of TEGNA

Hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in shares of TEGNA during the third quarter valued at $28,000. Headlands Technologies LLC raised its holdings in TEGNA by 48.2% in the second quarter. Headlands Technologies LLC now owns 4,520 shares of the company’s stock worth $63,000 after buying an additional 1,470 shares during the last quarter. CWM LLC raised its holdings in TEGNA by 146.3% in the second quarter. CWM LLC now owns 4,614 shares of the company’s stock worth $64,000 after buying an additional 2,741 shares during the last quarter. Quarry LP lifted its stake in shares of TEGNA by 455.2% in the third quarter. Quarry LP now owns 4,025 shares of the company’s stock worth $64,000 after buying an additional 3,300 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of TEGNA by 247.8% in the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock worth $70,000 after buying an additional 3,350 shares in the last quarter. Institutional investors own 92.19% of the company’s stock.

About TEGNA

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.