TEGNA Stock Rating Downgraded by StockNews.com

TEGNA (NYSE:TGNA) has recently been downgraded by analysts at StockNews.com, who have changed their recommendation from a "buy" rating to a "hold" rating in a report published on Friday.

Analyst Opinions on TEGNA Stock

Other research analysts have also provided their insights on TEGNA. For example, on November 12th, JPMorgan Chase & Co. raised their price target for TEGNA shares from $16.00 to $19.00, giving it a "neutral" rating. Similarly, Wells Fargo & Company upgraded TEGNA from an "equal weight" rating to an "overweight" rating, increasing their price target from $21.00 to $23.00 in a report on December 19th. Benchmark also boosted their target price from $21.00 to $23.00 with a "buy" rating on November 8th, while Guggenheim reaffirmed a "buy" rating and set a $22.00 price target on January 24th. Currently, two equity research analysts have rated the stock as a hold, while three have rated it as a buy. According to MarketBeat, TEGNA holds a consensus rating of "Moderate Buy" and a consensus price target of $21.75.

Recent Trading Activity

During midday trading on Friday, TEGNA experienced a rise of 1.3%, increasing by $0.23 to reach $18.17. A total of 2,310,366 shares were traded, surpassing its average volume of 1,255,930. TEGNA has a market capitalization of $2.93 billion, a price-to-earnings (P/E) ratio of 6.42, and a beta of 0.52. The stock has seen a low of $12.35 and a high of $19.62 over the past year. The current 50-day simple moving average is $18.16, while the 200-day simple moving average stands at $16.88. The company illustrates a debt-to-equity ratio of 1.07, along with a quick ratio and current ratio, both measuring 2.60.

Institutional Investor Activity

Recently, various hedge funds and other institutional investors have adjusted their positions in TEGNA. Jones Financial Companies Lllp acquired a new stake in TEGNA during the fourth quarter, investing approximately $27,000. Neo Ivy Capital Management also purchased a new stake worth $28,000 during the same period. Tower Research Capital LLC TRC boosted their position in TEGNA by 80.2% in the fourth quarter, now owning 1,683 shares valued at $31,000. Smartleaf Asset Management LLC increased their stake by 95.6%, acquiring an additional 832 shares, bringing their total to 1,702 shares worth $31,000. Aster Capital Management DIFC Ltd also made a new investment in TEGNA equating to around $32,000. Institutional investors collectively own about 92.19% of the company's stock.

About TEGNA Inc.

TEGNA Inc. is a major media company that specializes in providing broadcast advertising and marketing services for a variety of businesses. The company operates 47 television stations across 39 markets in the United States, delivering local programming that includes news, sports, and entertainment. TEGNA offers various advertising solutions, including both local and national non-political advertising, political advertising, production of content from third-party providers, and digital marketing services, as well as advertising services on its websites, tablets, and mobile products.

stock, analysts, TEGNA