TEGNA (NYSE:TGNA) Given New $19.00 Price Target at JPMorgan Chase & Co.

TEGNA (NYSE:TGNA - Get Free Report) had its price target boosted by JPMorgan Chase & Co. from $16.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 2.87% from the company's previous close.

Separately, Benchmark lifted their price target on shares of TEGNA from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday.

TEGNA Stock Performance

Shares of NYSE TGNA traded down $0.18 during mid-day trading on Tuesday, hitting $18.47. The company had a trading volume of 2,006,796 shares, compared to its average volume of 2,256,871. TEGNA has a 12 month low of $12.35 and a 12 month high of $19.62. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 6.57 and a beta of 0.49. The firm's 50 day simple moving average is $15.70 and its two-hundred day simple moving average is $14.84. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.58 and a quick ratio of 2.58.

TEGNA (NYSE:TGNA - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.11. The business had revenue of $806.83 million for the quarter, compared to analyst estimates of $795.72 million. TEGNA had a return on equity of 14.62% and a net margin of 16.75%. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, equities research analysts forecast that TEGNA will post 3.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Lynn B. Trelstad sold 25,000 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the chief operating officer now directly owns 154,617 shares of the company's stock, valued at approximately $2,535,718.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 50,016 shares of company stock valued at $757,218. 0.88% of the stock is owned by insiders.

Institutional Investors Weigh In On TEGNA

A number of hedge funds have recently bought and sold shares of the business. Cerity Partners LLC lifted its position in shares of TEGNA by 82.3% in the third quarter. Cerity Partners LLC now owns 48,504 shares of the company's stock worth $765,000 after purchasing an additional 21,900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of TEGNA by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,779,273 shares of the company's stock valued at $28,077,000 after buying an additional 53,583 shares during the last quarter. Pacer Advisors Inc. raised its holdings in TEGNA by 2,898.4% during the 3rd quarter. Pacer Advisors Inc. now owns 10,806,130 shares of the company's stock worth $170,521,000 after purchasing an additional 10,445,739 shares during the last quarter. Intech Investment Management LLC grew its position in shares of TEGNA by 179.6% during the 3rd quarter. Intech Investment Management LLC now owns 72,661 shares of the company's stock worth $1,147,000 after buying an additional 46,678 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of TEGNA by 194.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,262 shares of the company's stock valued at $162,000 after purchasing an additional 6,782 shares during the period. Institutional investors and hedge funds own 92.19% of the company's stock.

About TEGNA

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.