StockNews.com Upgrades New York Times (NYSE:NYT) to Buy

New York Times (NYSE:NYT) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

NYT has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.71.

New York Times Stock Up 1.7 %

NYSE:NYT opened at $50.38 on Thursday. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. New York Times has a twelve month low of $41.55 and a twelve month high of $58.16. The stock’s 50 day moving average price is $53.02 and its two-hundred day moving average price is $53.94.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. As a group, analysts anticipate that New York Times will post 2.07 earnings per share for the current year.

Institutional Trading of New York Times

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in New York Times by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company’s stock valued at $822,408,000 after purchasing an additional 63,856 shares during the period. Wellington Management Group LLP boosted its stake in New York Times by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares during the period. State Street Corp boosted its stake in New York Times by 0.7% in the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after purchasing an additional 32,905 shares during the period. Geode Capital Management LLC boosted its stake in New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company’s stock valued at $210,084,000 after purchasing an additional 102,519 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of New York Times by 0.7% during the 4th quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company’s stock valued at $175,748,000 after acquiring an additional 22,725 shares during the period. 95.37% of the stock is currently owned by institutional investors.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.