Citigroup Inc. upgraded shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) from a sell rating to a neutral rating in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has $90.00 target price on the stock, up from their prior target price of $66.00.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Scripps Networks Interactive from a hold rating to a sell rating in a research report on Monday, July 17th. Wells Fargo & Company initiated coverage on shares of Scripps Networks Interactive in a research report on Thursday, July 20th. They set a market perform rating and a $82.00 target price on the stock. Moffett Nathanson restated a sell rating on shares of Scripps Networks Interactive in a research report on Friday, June 9th. J P Morgan Chase & Co upgraded shares of Scripps Networks Interactive to a neutral rating and set a $83.00 target price on the stock in a research report on Monday, May 15th. Finally, Jefferies Group LLC restated a hold rating and set a $76.00 target price on shares of Scripps Networks Interactive in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $82.47.

Scripps Networks Interactive (SNI) traded down 0.86% on Tuesday, reaching $87.29. The company had a trading volume of 6,247,413 shares. Scripps Networks Interactive has a 52-week low of $59.32 and a 52-week high of $88.45. The stock has a 50 day moving average price of $71.91 and a 200 day moving average price of $73.93. The stock has a market capitalization of $11.33 billion, a PE ratio of 19.51 and a beta of 1.49.

Scripps Networks Interactive (NASDAQ:SNI) last announced its earnings results on Thursday, May 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.35. Scripps Networks Interactive had a net margin of 16.94% and a return on equity of 30.71%. The firm had revenue of $855 million for the quarter, compared to analyst estimates of $856.98 million. During the same quarter last year, the business earned $1.37 earnings per share. Scripps Networks Interactive’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Scripps Networks Interactive will post $5.49 EPS for the current year.

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In other news, major shareholder Margaret Scripps Klenzing sold 46,466 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $71.01, for a total value of $3,299,550.66. Following the transaction, the insider now owns 10,013 shares of the company’s stock, valued at approximately $711,023.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Edward W. Scripps sold 300,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the completion of the transaction, the insider now directly owns 232,071 shares in the company, valued at approximately $15,539,474.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,466 shares of company stock worth $25,477,051. 2.50% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of SNI. UBS Asset Management Americas Inc. increased its position in shares of Scripps Networks Interactive by 16.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 223,303 shares of the company’s stock worth $15,938,000 after buying an additional 31,000 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Scripps Networks Interactive by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 99,167 shares of the company’s stock worth $7,078,000 after buying an additional 5,702 shares in the last quarter. Kentucky Retirement Systems acquired a new position in shares of Scripps Networks Interactive during the fourth quarter worth approximately $493,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Scripps Networks Interactive during the fourth quarter worth approximately $220,000. Finally, Macquarie Group Ltd. increased its position in shares of Scripps Networks Interactive by 14.3% in the fourth quarter. Macquarie Group Ltd. now owns 16,000 shares of the company’s stock worth $1,142,000 after buying an additional 2,000 shares in the last quarter. 69.61% of the stock is currently owned by institutional investors and hedge funds.

About Scripps Networks Interactive

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

Analyst Recommendations for Scripps Networks Interactive (NASDAQ:SNI)

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