Barrington Research Reaffirms “Outperform” Rating for Nexstar Media Group (NASDAQ:NXST)

Nexstar Media Group (NASDAQ:NXST)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a report released on Tuesday,Benzinga reports. They currently have a $290.00 price target on the stock. Barrington Research’s target price would indicate a potential upside of 19.07% from the stock’s previous close.

A number of other research analysts have also recently commented on NXST. Guggenheim upped their price target on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Wells Fargo & Company raised their price objective on Nexstar Media Group from $250.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday. Benchmark upped their target price on Nexstar Media Group from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Friday. Finally, Citigroup lifted their price objective on Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a report on Monday. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $267.43.

Nexstar Media Group Trading Down 1.5%

NASDAQ:NXST traded down $3.69 during mid-day trading on Tuesday, hitting $243.55. 301,180 shares of the stock traded hands, compared to its average volume of 355,292. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group has a 52 week low of $141.66 and a 52 week high of $254.30. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 82.84, a PEG ratio of 0.98 and a beta of 0.79. The firm’s 50 day moving average is $218.63 and its two-hundred day moving average is $205.13.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in shares of Nexstar Media Group during the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Nexstar Media Group in the third quarter worth approximately $28,000. Root Financial Partners LLC purchased a new stake in shares of Nexstar Media Group in the third quarter worth $31,000. Allworth Financial LP raised its position in shares of Nexstar Media Group by 617.2% during the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after purchasing an additional 179 shares during the period. Finally, WPG Advisers LLC lifted its stake in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.