Citigroup Forecasts Strong Price Appreciation for Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group (NASDAQ:NXST) had its target price lifted by Citigroup from $204.00 to $252.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 3.47% from the company’s current price.

Several other equities analysts also recently commented on NXST. Guggenheim increased their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Benchmark lifted their target price on shares of Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Wells Fargo & Company boosted their target price on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.43.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $243.55 on Monday. Nexstar Media Group has a twelve month low of $141.66 and a twelve month high of $254.30. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The stock’s 50-day simple moving average is $219.43 and its 200 day simple moving average is $205.39. The firm has a market capitalization of $7.39 billion, a PE ratio of 82.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79.

Institutional Investors Weigh In On Nexstar Media Group

A number of hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC bought a new position in Nexstar Media Group in the fourth quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Nexstar Media Group in the third quarter valued at approximately $28,000. Root Financial Partners LLC purchased a new position in shares of Nexstar Media Group during the third quarter valued at approximately $31,000. WPG Advisers LLC boosted its position in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after buying an additional 125 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.