Shares of Gray Television Inc. (NYSE:GTN) saw strong trading volume on Thursday . 2,156,402 shares traded hands during mid-day trading, an increase of 174% from the previous session’s volume of 785,717 shares.The stock last traded at $11.05 and had previously closed at $11.25.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Gray Television from a “hold” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research note on Monday, May 2nd. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a research note on Tuesday, May 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Gray Television has an average rating of “Buy” and an average price target of $18.75.

The company’s 50-day moving average price is $11.26 and its 200 day moving average price is $11.96. The stock has a market cap of $794.24 million and a PE ratio of 18.99.

Gray Television (NYSE:GTN) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.08. During the same period last year, the business posted $0.10 EPS. The firm earned $173.70 million during the quarter, compared to analyst estimates of $178.05 million. The company’s revenue was up 30.3% on a year-over-year basis. On average, equities research analysts predict that Gray Television Inc. will post $1.73 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its stake in shares of Gray Television by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,494,585 shares of the company’s stock worth $24,362,000 after buying an additional 139,875 shares during the period. Century Capital Management LLC purchased a new stake in shares of Gray Television during the fourth quarter worth approximately $3,748,000. California Public Employees Retirement System boosted its stake in shares of Gray Television by 12.6% in the fourth quarter. California Public Employees Retirement System now owns 208,500 shares of the company’s stock worth $3,399,000 after buying an additional 23,300 shares during the period. Monarch Partners Asset Management LLC boosted its stake in shares of Gray Television by 88.6% in the fourth quarter. Monarch Partners Asset Management LLC now owns 203,850 shares of the company’s stock worth $3,323,000 after buying an additional 95,750 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Gray Television by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 117,010 shares of the company’s stock worth $1,907,000 after buying an additional 2,115 shares during the period.

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.