New York Times (NYSE:NYT) Given a $52.00 Price Target at Barclays

Key Points

• Barclays has raised its price target for the New York Times (NYSE:NYT) from $45.00 to $52.00, indicating a potential downside of 14.09% from the stock's previous close.
• Recent analyst ratings show a shift with Wall Street Zen upgrading the stock to "buy" and a consensus rating of "Moderate Buy" with a price target averaging $58.00.
• New York Times reported a quarterly revenue of $685.90 million, exceeding analysts' expectations and marking a year-over-year increase of 9.7%.

New York Times (NYSE:NYT - Get Free Report) has been assigned a $52.00 price target by analysts at Barclays in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target suggests a potential downside of 10.61% from the stock's previous close.

NYT has been the topic of several other research reports. Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Citigroup reiterated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Finally, Guggenheim boosted their target price on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, New York Times presently has an average rating of "Moderate Buy" and an average target price of $60.33.

New York Times Stock Performance

Shares of NYT stock traded down $0.02 on Thursday, reaching $58.18. 749,192 shares of the company's stock traded hands, compared to its average volume of 1,785,718. The business's 50 day moving average price is $55.05 and its two-hundred day moving average price is $52.17. The company has a market capitalization of $9.49 billion, a P/E ratio of 30.01, a price-to-earnings-growth ratio of 1.69 and a beta of 1.09. New York Times has a 12-month low of $44.83 and a 12-month high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $685.90 million for the quarter, compared to analysts' expectations of $670.22 million. New York Times had a return on equity of 19.68% and a net margin of 11.92%. The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. Research analysts predict that New York Times will post 2.08 earnings per share for the current year.

Insider Activity

In related news, EVP William Bardeen sold 2,500 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the transaction, the executive vice president directly owned 16,727 shares in the company, valued at approximately $950,595.41. This represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the transaction, the director directly owned 27,569 shares of the company's stock, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,490 shares of company stock valued at $479,728 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New York Times

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in New York Times by 109.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock worth $1,259,000 after purchasing an additional 13,248 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of New York Times in the 1st quarter valued at approximately $250,000. Centiva Capital LP raised its holdings in shares of New York Times by 58.6% in the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock worth $1,875,000 after buying an additional 13,311 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of New York Times by 164.0% during the 1st quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company's stock worth $2,436,000 after buying an additional 30,515 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in New York Times by 123.2% in the 1st quarter. Victory Capital Management Inc. now owns 178,956 shares of the company's stock valued at $8,876,000 after buying an additional 98,789 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

New York Times Company Profile

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.