Investment analysts at Jefferies Group began coverage on shares of Gray Television (NYSE:GTN) in a research note issued to investors on Thursday. The brokerage set a “buy” rating and a $18.00 price target on the stock. Jefferies Group’s price objective indicates a potential upside of 10.77% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered Gray Television from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Guggenheim started coverage on Gray Television in a report on Wednesday, October 18th. They issued a “buy” rating and a $20.00 target price for the company. ValuEngine upgraded Gray Television from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Benchmark reiterated a “buy” rating and issued a $21.00 target price on shares of Gray Television in a report on Tuesday, November 7th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $17.00 target price on shares of Gray Television in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $18.43.

Gray Television (GTN) opened at $16.25 on Thursday. The stock has a market capitalization of $1,370.23, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.46 and a beta of 3.14. Gray Television has a fifty-two week low of $9.95 and a fifty-two week high of $16.70. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11.

Gray Television (NYSE:GTN) last released its earnings results on Monday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The company had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $218.78 million. Gray Television had a net margin of 14.91% and a return on equity of 15.53%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. research analysts anticipate that Gray Television will post 1.61 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in GTN. Teachers Advisors LLC lifted its holdings in Gray Television by 5.1% during the 1st quarter. Teachers Advisors LLC now owns 118,463 shares of the company’s stock worth $1,718,000 after buying an additional 5,724 shares during the last quarter. Sei Investments Co. lifted its holdings in Gray Television by 10.4% during the 2nd quarter. Sei Investments Co. now owns 35,686 shares of the company’s stock worth $489,000 after buying an additional 3,362 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Gray Television by 32.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 393,627 shares of the company’s stock worth $5,393,000 after buying an additional 96,111 shares during the last quarter. Boston Partners purchased a new stake in Gray Television during the 2nd quarter worth about $2,913,000. Finally, Rhumbline Advisers lifted its holdings in Gray Television by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 75,994 shares of the company’s stock worth $1,041,000 after buying an additional 535 shares during the last quarter. 83.57% of the stock is owned by institutional investors.

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Gray Television Company Profile

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

Analyst Recommendations for Gray Television (NYSE:GTN)

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