Benchmark Issues Pessimistic Forecast for TEGNA (NYSE:TGNA) Stock Price

TEGNA (NYSE:TGNA) had its price objective cut by Benchmark from $21.00 to $20.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 20.05% from the company’s previous close.

Several other equities analysts have also commented on the stock. StockNews.com lowered shares of TEGNA from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Wells Fargo & Company reduced their target price on shares of TEGNA from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Guggenheim dropped their price target on shares of TEGNA from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

TEGNA Trading Up 0.1 %

Shares of NYSE TGNA opened at $16.66 on Tuesday. TEGNA has a 12-month low of $12.35 and a 12-month high of $19.62. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 5.89 and a beta of 0.31. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $17.06 and its 200 day simple moving average is $17.70.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new position in TEGNA during the 4th quarter valued at $27,000. Neo Ivy Capital Management bought a new position in TEGNA during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC grew its holdings in TEGNA by 95.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,702 shares of the company’s stock worth $31,000 after acquiring an additional 832 shares during the period. Tower Research Capital LLC TRC raised its position in TEGNA by 80.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,683 shares of the company’s stock worth $31,000 after acquiring an additional 749 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in TEGNA in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 92.19% of the company’s stock.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.