Shares of Gray Television, Inc. (NYSE:GTN) have been assigned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $16.25.

GTN has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $17.00 target price on shares of Gray Television in a report on Thursday, April 13th. Benchmark Co. reaffirmed a “buy” rating and issued a $19.00 target price on shares of Gray Television in a report on Friday, May 5th.

Gray Television (NYSE:GTN) opened at 14.65 on Tuesday. Gray Television has a 12-month low of $7.00 and a 12-month high of $15.45. The firm has a 50-day moving average price of $13.67 and a 200-day moving average price of $13.24. The stock has a market cap of $1.05 billion, a PE ratio of 16.65 and a beta of 3.28.

Gray Television (NYSE:GTN) last released its earnings results on Thursday, May 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.09. The firm had revenue of $203.46 million for the quarter, compared to analyst estimates of $194.68 million. Gray Television had a return on equity of 8.45% and a net margin of 5.16%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. Analysts forecast that Gray Television will post $0.91 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in GTN. State Street Corp raised its stake in shares of Gray Television by 0.7% in the fourth quarter. State Street Corp now owns 1,246,593 shares of the company’s stock valued at $13,528,000 after buying an additional 8,977 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Gray Television during the fourth quarter valued at $781,000. Norges Bank purchased a new stake in shares of Gray Television during the fourth quarter valued at $1,302,000. Highbridge Capital Management LLC raised its stake in shares of Gray Television by 84.6% in the fourth quarter. Highbridge Capital Management LLC now owns 33,055 shares of the company’s stock valued at $359,000 after buying an additional 15,147 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in shares of Gray Television during the first quarter valued at $101,000. 87.40% of the stock is currently owned by hedge funds and other institutional investors.

About Gray Television

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

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