Gray Television (NYSE:GTN) Stock Rating Upgraded by Barrington Research

Gray Television (NYSE:GTN) was upgraded by stock analysts at Barrington Research to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on GTN. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark reduced their price objective on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company dropped their target price on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Finally, Guggenheim reduced their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.67.

Gray Television Trading Down 2.1 %

Shares of NYSE GTN traded down $0.10 during trading on Thursday, reaching $4.69. The stock had a trading volume of 1,173,107 shares, compared to its average volume of 1,276,759. The business’s 50-day moving average price is $5.27 and its 200-day moving average price is $5.42. Gray Television has a fifty-two week low of $3.95 and a fifty-two week high of $10.07. The company has a market cap of $467.45 million, a P/E ratio of 3.13, a PEG ratio of 0.12 and a beta of 1.47. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.63 and a current ratio of 1.13.

Gray Television (NYSE:GTN) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company had revenue of $950.00 million during the quarter, compared to analyst estimates of $967.49 million. During the same quarter in the previous year, the business posted ($0.57) earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. On average, equities research analysts predict that Gray Television will post 3.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GTN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Gray Television by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock worth $1,283,000 after acquiring an additional 2,654 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Gray Television by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,405 shares of the company’s stock valued at $578,000 after buying an additional 3,068 shares in the last quarter. Diversified Trust Co grew its holdings in Gray Television by 13.7% during the 2nd quarter. Diversified Trust Co now owns 25,633 shares of the company’s stock valued at $133,000 after buying an additional 3,097 shares during the last quarter. Rhumbline Advisers increased its position in Gray Television by 2.6% during the second quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock worth $726,000 after buying an additional 3,544 shares in the last quarter. Finally, Dakota Wealth Management increased its position in Gray Television by 34.5% during the second quarter. Dakota Wealth Management now owns 14,753 shares of the company’s stock worth $77,000 after buying an additional 3,781 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

About Gray Television

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.