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

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

A number of other analysts have also recently issued reports on NYT. Morgan Stanley cut their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised 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 note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised 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 note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and an average target price of $54.71.

New York Times Price Performance

Shares of NYT opened at $49.74 on Thursday. The firm has a 50-day moving average of $52.85 and a 200-day moving average of $53.89. New York Times has a one year low of $41.55 and a one year high of $58.16. The company has a market cap of $8.15 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Analysts expect that New York Times will post 2.07 earnings per share for the current year.

Institutional Trading of New York Times

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Darsana Capital Partners LP raised its stake in New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock worth $299,288,000 after purchasing an additional 750,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of New York Times by 497.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 703,731 shares of the company’s stock valued at $36,629,000 after buying an additional 585,871 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of New York Times in the 4th quarter valued at approximately $357,000. Voleon Capital Management LP acquired a new position in shares of New York Times in the 4th quarter valued at approximately $541,000. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of New York Times by 11,158.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 467,236 shares of the company’s stock valued at $24,320,000 after buying an additional 463,086 shares in the last quarter. Institutional investors and hedge funds 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.