JPMorgan Chase & Co. Boosts TEGNA (NYSE:TGNA) Price Target to $19.00

TEGNA (NYSE:TGNA) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $16.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.66% from the stock’s current price.

Separately, Benchmark lifted their price objective 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.

TEGNA Stock Up 1.2 %

TGNA opened at $18.69 on Tuesday. The firm has a market capitalization of $3.01 billion, a P/E ratio of 6.60 and a beta of 0.49. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.60 and a quick ratio of 2.60. TEGNA has a fifty-two week low of $12.35 and a fifty-two week high of $19.62. The company’s 50-day moving average is $15.88 and its 200 day moving average is $14.90.

TEGNA (NYSE:TGNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. The business 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%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Research analysts expect that TEGNA will post 3.07 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Lynn B. Trelstad sold 25,000 shares of the business’s stock in a transaction that occurred on 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 owns 154,617 shares of the company’s stock, valued at $2,535,718.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.88% of the company’s stock.

Institutional Trading of TEGNA

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new position in TEGNA during the third quarter valued at approximately $28,000. Headlands Technologies LLC purchased a new position in TEGNA during the first quarter valued at approximately $46,000. CWM LLC grew its stake in TEGNA by 146.3% during the second quarter. CWM LLC now owns 4,614 shares of the company’s stock valued at $64,000 after acquiring an additional 2,741 shares in the last quarter. Blue Trust Inc. grew its stake in TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after acquiring an additional 3,350 shares in the last quarter. Finally, US Bancorp DE grew its stake in TEGNA by 20.4% during the third quarter. US Bancorp DE now owns 4,503 shares of the company’s stock valued at $71,000 after acquiring an additional 764 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.