New York Times (NYSE:NYT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

New York Times (NYSE:NYT) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $58.00 to $62.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 10.83% from the stock’s current price.

A number of other research analysts have also recently issued reports on NYT. Deutsche Bank Aktiengesellschaft lifted their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Barclays upped their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and an average price target of $53.43.

New York Times Stock Up 5.1 %

NYSE:NYT opened at $55.94 on Tuesday. The firm has a market cap of $9.19 billion, a PE ratio of 33.10 and a beta of 1.02. The company’s 50-day moving average price is $54.76 and its two-hundred day moving average price is $52.17. New York Times has a 12 month low of $41.02 and a 12 month high of $57.08.

New York Times (NYSE:NYT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.95% and a net margin of 11.04%. The business had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. During the same period in the prior year, the company earned $0.37 EPS. New York Times’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts expect that New York Times will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other New York Times news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction on Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO William Bardeen sold 2,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the transaction, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Trading of New York Times

A number of hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in New York Times by 72.9% in the first quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock valued at $5,308,000 after purchasing an additional 51,801 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of New York Times in the 1st quarter valued at $473,000. Comerica Bank raised its stake in New York Times by 15.6% during the 1st quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after buying an additional 11,234 shares during the period. Russell Investments Group Ltd. lifted its holdings in New York Times by 9.0% during the first quarter. Russell Investments Group Ltd. now owns 116,934 shares of the company’s stock worth $5,054,000 after acquiring an additional 9,609 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in New York Times in the first quarter valued at about $2,293,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.