Time Inc. (NYSE:TIME) had its target price lowered by equities research analysts at Morgan Stanley from $14.00 to $13.00 in a research report issued to clients and investors on Monday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 7.00% from the stock’s previous close.

Several other research firms also recently commented on TIME. Zacks Investment Research downgraded Time from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. BidaskClub downgraded Time from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, ValuEngine upgraded Time from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Time has an average rating of “Hold” and an average price target of $14.25.

Time (NYSE:TIME) traded down 1.029% during mid-day trading on Monday, hitting $12.025. The stock had a trading volume of 101,504 shares. Time has a 1-year low of $11.65 and a 1-year high of $20.40. The stock’s market cap is $1.20 billion. The firm’s 50-day moving average price is $12.94 and its 200-day moving average price is $13.99.

Time (NYSE:TIME) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The firm had revenue of $694.00 million during the quarter, compared to analysts’ expectations of $698.66 million. During the same quarter in the previous year, the company posted $0.22 EPS. Time’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities analysts expect that Time will post $1.10 earnings per share for the current year.

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Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Time by 53.8% during the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock worth $48,129,000 after acquiring an additional 870,200 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Time during the first quarter worth $602,000. AMG Funds LLC lifted its position in shares of Time by 5.7% during the second quarter. AMG Funds LLC now owns 143,337 shares of the company’s stock worth $2,057,000 after acquiring an additional 7,788 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Time by 5.7% during the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock worth $302,000 after acquiring an additional 840 shares in the last quarter. Finally, Advantus Capital Management Inc lifted its position in shares of Time by 3.2% during the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock worth $246,000 after acquiring an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.

About Time

Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.

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