tronc Inc (TRNC) Given Average Recommendation of “Buy” by Brokerages

tronc Inc (NASDAQ:TRNC) has received an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $25.00.

A number of research analysts have commented on TRNC shares. ValuEngine upgraded shares of tronc from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of tronc from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Sidoti started coverage on shares of tronc in a research note on Wednesday, January 17th. They set a “buy” rating and a $25.00 price target for the company. BidaskClub cut shares of tronc from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Noble Financial lowered shares of tronc from a “buy” rating to a “hold” rating in a report on Monday, February 5th. They noted that the move was a valuation call.

tronc (NASDAQ:TRNC) opened at $20.81 on Monday. The company has a market cap of $699.17, a PE ratio of 28.90 and a beta of 1.94. The company has a debt-to-equity ratio of 4.98, a quick ratio of 1.53 and a current ratio of 1.57. tronc has a one year low of $10.80 and a one year high of $24.74.

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of tronc by 12.7% during the third quarter. JPMorgan Chase & Co. now owns 233,099 shares of the company’s stock worth $3,382,000 after buying an additional 26,299 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of tronc by 43.0% during the third quarter. Prudential Financial Inc. now owns 92,220 shares of the company’s stock worth $1,340,000 after buying an additional 27,710 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of tronc by 3.9% during the second quarter. Vanguard Group Inc. now owns 1,055,406 shares of the company’s stock worth $13,603,000 after buying an additional 39,661 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of tronc by 38.2% during the second quarter. TIAA CREF Investment Management LLC now owns 95,596 shares of the company’s stock worth $1,232,000 after buying an additional 26,445 shares in the last quarter. Finally, Nationwide Fund Advisors increased its holdings in shares of tronc by 24.5% during the second quarter. Nationwide Fund Advisors now owns 79,476 shares of the company’s stock worth $1,024,000 after buying an additional 15,655 shares in the last quarter. 36.75% of the stock is owned by institutional investors.

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About tronc

tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.

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