Shares of Gray Television, Inc. (NYSE:GTN) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat.com reports. Five equities 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 price target among analysts that have issued ratings on the stock in the last year is $17.00.

A number of research analysts have commented on GTN shares. Royal Bank Of Canada upped their price target on Gray Television from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. BidaskClub cut Gray Television from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 6th. Benchmark Co. restated a “buy” rating and set a $19.00 price target on shares of Gray Television in a research note on Friday, May 5th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $18.00 price target (up from $15.50) on shares of Gray Television in a research note on Thursday, August 10th.

Shares of Gray Television (NYSE:GTN) opened at 13.85 on Friday. Gray Television has a one year low of $7.00 and a one year high of $15.45. The stock has a 50 day moving average price of $14.27 and a 200 day moving average price of $13.66. The stock has a market capitalization of $992.14 million, a P/E ratio of 8.61 and a beta of 3.28.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Gray Television had a return on equity of 17.32% and a net margin of 13.38%. The company had revenue of $226.70 million for the quarter, compared to analysts’ expectations of $221.05 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that Gray Television will post $1.61 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of GTN. BNP Paribas Arbitrage SA raised its stake in Gray Television by 4,901.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock worth $102,000 after buying an additional 7,303 shares in the last quarter. LSV Asset Management bought a new stake in Gray Television during the second quarter worth $153,000. Acrospire Investment Management LLC raised its stake in Gray Television by 1,072.9% in the first quarter. Acrospire Investment Management LLC now owns 11,260 shares of the company’s stock worth $163,000 after buying an additional 10,300 shares in the last quarter. Clinton Group Inc. bought a new stake in Gray Television during the first quarter worth $176,000. Finally, Pacad Investment Ltd. raised its stake in Gray Television by 24.3% in the second quarter. Pacad Investment Ltd. now owns 13,800 shares of the company’s stock worth $189,000 after buying an additional 2,700 shares in the last quarter. 86.08% of the stock is currently owned by institutional investors and hedge funds.

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Gray Television Company Profile

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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