Gray Television (NYSE:GTN – Get Free Report) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm presently has a $4.00 price objective on the stock. Wells Fargo & Company’s price objective suggests a potential upside of 6.52% from the company’s current price.

Several other analysts have also commented on GTN. Guggenheim decreased their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Barrington Research raised shares of Gray Television to a “hold” rating in a research report on Thursday, November 14th. Benchmark decreased their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gray Television presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

Check Out Our Latest Research Report on GTN

Gray Television Trading Down 3.5 %

GTN stock opened at $3.76 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television has a twelve month low of $2.91 and a twelve month high of $7.41. The stock has a market capitalization of $374.25 million, a price-to-earnings ratio of 2.50 and a beta of 1.41. The firm’s fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $4.43.

Gray Television (NYSE:GTN – Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.59 EPS for the quarter, hitting analysts’ consensus estimates of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. As a group, analysts anticipate that Gray Television will post 3.32 earnings per share for the current year.

Hedge Funds Weigh In On Gray Television

Several hedge funds and other institutional investors have recently bought and sold shares of GTN. Voleon Capital Management LP acquired a new position in Gray Television in the 4th quarter worth approximately $32,000. Ameriprise Financial Inc. acquired a new position in Gray Television in the 4th quarter worth approximately $33,000. Boothbay Fund Management LLC acquired a new position in Gray Television in the 4th quarter worth approximately $34,000. Federated Hermes Inc. increased its holdings in Gray Television by 214,100.0% in the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company’s stock worth $40,000 after buying an additional 12,846 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Gray Television during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

About Gray Television

(Get Free Report)

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.

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