JPMorgan Chase & Co. Forecasts Strong Price Appreciation for New York Times (NYSE:NYT) Stock

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

NYT has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays raised their target price on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.43.

New York Times Trading Up 5.1 %

NYT opened at $55.94 on Tuesday. The firm’s fifty day simple moving average is $54.76 and its 200 day simple moving average is $52.17. The stock has a market capitalization of $9.19 billion, a P/E ratio of 33.10 and a beta of 1.02. 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 issued its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. New York Times had a return on equity of 17.95% and a net margin of 11.04%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. On average, equities research analysts predict that New York Times will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the transaction, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred 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 transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On New York Times

Several institutional investors and hedge funds have recently modified their holdings of NYT. Oak Family Advisors LLC boosted its holdings in shares of New York Times by 2.2% during the 2nd quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after buying an additional 231 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of New York Times by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after acquiring an additional 247 shares during the period. KBC Group NV boosted its holdings in shares of New York Times by 0.4% during the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock worth $4,226,000 after acquiring an additional 308 shares during the period. Hixon Zuercher LLC grew its position in shares of New York Times by 2.9% in the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock valued at $696,000 after purchasing an additional 354 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the period. 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.