Zacks Investment Research upgraded shares of Gray Television (NYSE:GTN) from a hold rating to a buy rating in a report issued on Friday. The firm currently has $22.00 price target on the stock.

According to Zacks, “Gray Television is a communications company headquartered in Atlanta, Georgia, and currently operates 15 CBS-affiliated television stations, seven NBC-affiliated television stations, seven ABC-affiliated television stations and four daily newspapers. “

GTN has been the topic of a number of other reports. ValuEngine upgraded shares of Gray Television from a hold rating to a buy rating in a research note on Monday, October 22nd. Noble Financial reiterated a buy rating on shares of Gray Television in a research note on Wednesday. Barrington Research reiterated an outperform rating on shares of Gray Television in a research note on Monday, July 16th. Finally, Benchmark raised their target price on shares of Gray Television from $28.00 to $29.00 and gave the company a buy rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $22.25.

NYSE:GTN traded down $0.25 during midday trading on Friday, reaching $19.66. The stock had a trading volume of 1,090,504 shares, compared to its average volume of 1,049,485. Gray Television has a 1-year low of $10.70 and a 1-year high of $20.24. The company has a current ratio of 6.32, a quick ratio of 4.69 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $1.73 billion, a PE ratio of 10.93, a PEG ratio of 0.97 and a beta of 2.23.

Gray Television (NYSE:GTN) last posted its earnings results on Tuesday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. Gray Television had a net margin of 29.12% and a return on equity of 14.95%. The business had revenue of $279.00 million for the quarter, compared to analyst estimates of $276.52 million. During the same period last year, the business posted $0.21 EPS. Gray Television’s revenue was up 27.4% compared to the same quarter last year. As a group, analysts anticipate that Gray Television will post 2.18 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of GTN. UBS Group AG boosted its holdings in Gray Television by 1,342.0% in the 1st quarter. UBS Group AG now owns 37,909 shares of the company’s stock valued at $481,000 after purchasing an additional 35,280 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Gray Television by 21.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 59,849 shares of the company’s stock valued at $760,000 after purchasing an additional 10,723 shares during the period. California State Teachers Retirement System boosted its holdings in Gray Television by 21.3% in the 1st quarter. California State Teachers Retirement System now owns 122,481 shares of the company’s stock valued at $1,556,000 after purchasing an additional 21,545 shares during the period. Guggenheim Capital LLC boosted its holdings in Gray Television by 1,403.0% in the 1st quarter. Guggenheim Capital LLC now owns 151,335 shares of the company’s stock valued at $1,921,000 after purchasing an additional 141,266 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new stake in Gray Television in the 1st quarter valued at $187,000. 88.60% of the stock is owned by hedge funds and other institutional investors.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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Analyst Recommendations for Gray Television (NYSE:GTN)

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