Brokerages Set tronc Inc (TRNC) PT at $25.00
Shares of tronc Inc (NASDAQ:TRNC) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $25.00.
A number of brokerages have recently issued reports on TRNC. ValuEngine upgraded tronc from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub cut tronc from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded tronc from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday, November 15th. Finally, Sidoti started coverage on tronc in a report on Wednesday. They set a “buy” rating and a $25.00 target price on the stock.
Shares of tronc (TRNC) traded up $0.30 during trading on Thursday, hitting $19.53. The stock had a trading volume of 70,302 shares, compared to its average volume of 64,445. tronc has a one year low of $10.80 and a one year high of $19.65. The company has a market cap of $656.17, a PE ratio of 27.13 and a beta of 1.85. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 4.98.
Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its holdings in shares of tronc by 43.0% during the 3rd quarter. Prudential Financial Inc. now owns 92,220 shares of the company’s stock worth $1,340,000 after acquiring an additional 27,710 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of tronc by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,055,406 shares of the company’s stock worth $13,603,000 after acquiring an additional 39,661 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of tronc by 38.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 95,596 shares of the company’s stock worth $1,232,000 after acquiring an additional 26,445 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of tronc by 24.5% during the 2nd quarter. Nationwide Fund Advisors now owns 79,476 shares of the company’s stock worth $1,024,000 after acquiring an additional 15,655 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of tronc during the 3rd quarter worth approximately $734,000. 36.04% of the stock is currently owned by institutional investors and hedge funds.
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tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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