Noble Financial Reaffirms Buy Rating for Tegna (TGNA)
Tegna (NYSE:TGNA)‘s stock had its “buy” rating restated by equities researchers at Noble Financial in a research note issued on Friday.
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Tegna from a “buy” rating to a “hold” rating in a research note on Thursday. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Tegna in a research note on Thursday, February 22nd. Zacks Investment Research lowered shares of Tegna from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Wells Fargo & Co upgraded shares of Tegna from a “market perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Thursday, January 4th. Finally, BidaskClub lowered shares of Tegna from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.11.
Tegna (TGNA) opened at $13.48 on Friday. Tegna has a 1-year low of $11.59 and a 1-year high of $16.98. The firm has a market cap of $2,794.22, a P/E ratio of 6.33, a P/E/G ratio of 6.39 and a beta of 1.55. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.37 and a quick ratio of 1.37.
In other news, SVP Clifton A. Mcclelland III sold 7,740 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $13.69, for a total value of $105,960.60. Following the completion of the sale, the senior vice president now directly owns 32,335 shares in the company, valued at approximately $442,666.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.81% of the company’s stock.
Several large investors have recently bought and sold shares of TGNA. First Trust Advisors LP increased its stake in shares of Tegna by 35.7% in the 3rd quarter. First Trust Advisors LP now owns 603,781 shares of the company’s stock worth $8,048,000 after purchasing an additional 159,004 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Tegna in the 3rd quarter worth $207,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Tegna in the 3rd quarter worth $312,000. Canada Pension Plan Investment Board increased its stake in shares of Tegna by 74.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,027,070 shares of the company’s stock worth $13,691,000 after purchasing an additional 437,100 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Tegna in the 3rd quarter worth $420,000. Hedge funds and other institutional investors own 99.91% of the company’s stock.
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Tegna Company Profile
Tegna Inc has a portfolio of media and digital businesses that provide content. The Company’s segments include TEGNA Media (Media) and TEGNA Digital (Digital). As of December 31, 2016, its media business included 46 television stations operating in 38 markets and offered television programming and digital content.
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