Gray Media’s (GTN) “Outperform” Rating Reiterated at Barrington Research

Gray Media (NYSE:GTN)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a research note issued on Tuesday,Benzinga reports. They currently have a $6.50 target price on the stock. Barrington Research’s price objective points to a potential upside of 14.48% from the company’s previous close.

A number of other research firms also recently commented on GTN. Zacks Research downgraded Gray Media from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gray Media in a research report on Monday, December 29th. Wells Fargo & Company boosted their target price on Gray Media from $5.50 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Guggenheim boosted their price objective on Gray Media from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Benchmark lifted their target price on Gray Media from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Gray Media presently has a consensus rating of “Hold” and an average price target of $8.13.

Gray Media Price Performance

Shares of Gray Media stock traded up $0.02 during trading on Tuesday, reaching $5.68. The company’s stock had a trading volume of 132,898 shares, compared to its average volume of 1,368,484. The business has a 50 day moving average price of $5.06 and a 200-day moving average price of $4.83. The company has a market capitalization of $589.26 million, a P/E ratio of -4.00 and a beta of 0.90. Gray Media has a 12-month low of $3.25 and a 12-month high of $6.43. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.66.

Gray Media (NYSE:GTN) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $792.00 million during the quarter, compared to analysts’ expectations of $780.50 million. Gray Media had a negative net margin of 2.75% and a negative return on equity of 2.51%. The company’s revenue was down 24.2% on a year-over-year basis. During the same period last year, the company posted $1.59 EPS. As a group, sell-side analysts anticipate that Gray Media will post 2.58 EPS for the current year.

Institutional Trading of Gray Media

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Gray Media in the 1st quarter valued at about $28,000. CANADA LIFE ASSURANCE Co grew its holdings in Gray Media by 68.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,401 shares of the company’s stock worth $50,000 after purchasing an additional 4,217 shares during the period. M&T Bank Corp acquired a new position in Gray Media during the fourth quarter worth approximately $51,000. AXQ Capital LP bought a new stake in Gray Media in the fourth quarter valued at approximately $54,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Gray Media in the fourth quarter valued at approximately $55,000. 78.64% of the stock is owned by institutional investors.

Gray Media Company Profile

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.