Morgan Stanley Lowers New York Times (NYSE:NYT) Price Target to $54.00

New York Times (NYSE:NYT) had its target price reduced by investment analysts at Morgan Stanley from $56.00 to $54.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 10.68% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, New York Times has an average rating of “Moderate Buy” and a consensus target price of $54.71.

New York Times Stock Down 0.8 %

NYT stock opened at $48.79 on Thursday. New York Times has a 12-month low of $41.55 and a 12-month high of $58.16. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.51 and a beta of 1.01. The company has a 50 day moving average of $53.31 and a two-hundred day moving average of $54.06.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. On average, research analysts anticipate that New York Times will post 1.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NYT. Baillie Gifford & Co. grew its stake in New York Times by 228.3% in the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after buying an additional 1,764,078 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in New York Times by 582.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock valued at $20,110,000 after buying an additional 308,277 shares during the last quarter. Allianz Asset Management GmbH grew its stake in New York Times by 117.5% in the 4th quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company’s stock valued at $26,966,000 after buying an additional 279,899 shares during the last quarter. Clark & Stuart Inc acquired a new position in New York Times in the 4th quarter valued at $8,490,000. Finally, Bank of New York Mellon Corp grew its stake in New York Times by 10.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company’s stock valued at $87,516,000 after buying an additional 159,073 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

About New York Times

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.