Barrington Research Issues Positive Forecast for Nexstar Media Group (NASDAQ:NXST) Stock Price

Key Points

• Barrington Research has raised its target price for Nexstar Media Group (NASDAQ:NXST) stock from $200.00 to $225.00, indicating a potential upside of 20.45% from the current price.
• Other analysts, including Benchmark and Wells Fargo, have also increased their target prices for the stock, with Wells Fargo setting a target of $250.00 and maintaining an "overweight" rating.
• Nexstar Media Group recently reported earnings of $3.06 per share for the quarter, exceeding expectations, though its revenue of $1.23 billion showed a 3.2% decline year-over-year.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) had its target price lifted by Barrington Research from $200.00 to $225.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Barrington Research's target price would suggest a potential upside of 20.45% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Benchmark increased their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.00.

Nexstar Media Group Trading Up 1.2%

NXST stock opened at $186.80 on Monday. The company's 50-day simple moving average is $178.35 and its 200-day simple moving average is $167.72. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. Nexstar Media Group has a 52-week low of $141.66 and a 52-week high of $194.00. The firm has a market cap of $5.70 billion, a P/E ratio of 9.70, a PEG ratio of 1.38 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.44%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company posted $3.54 EPS. The company's revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Nexstar Media Group will post 21.62 EPS for the current fiscal year.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 1,088 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $190,976.64. Following the transaction, the insider directly owned 12,096 shares of the company's stock, valued at $2,123,210.88. This trade represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Biard sold 2,182 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $378,773.38. Following the completion of the transaction, the chief operating officer directly owned 7,218 shares in the company, valued at $1,252,972.62. This trade represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,474 shares of company stock valued at $3,666,988. 6.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NXST. Impact Capital Partners LLC increased its holdings in Nexstar Media Group by 2.0% in the 2nd quarter. Impact Capital Partners LLC now owns 2,857 shares of the company's stock valued at $494,000 after purchasing an additional 55 shares during the last quarter. Lynx Investment Advisory increased its holdings in Nexstar Media Group by 3.8% in the 2nd quarter. Lynx Investment Advisory now owns 1,800 shares of the company's stock valued at $311,000 after purchasing an additional 66 shares during the last quarter. Glassy Mountain Advisors Inc. increased its holdings in Nexstar Media Group by 0.4% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock valued at $3,674,000 after purchasing an additional 73 shares during the last quarter. Blue Trust Inc. increased its holdings in Nexstar Media Group by 7.3% in the 2nd quarter. Blue Trust Inc. now owns 1,195 shares of the company's stock valued at $207,000 after purchasing an additional 81 shares during the last quarter. Finally, Drive Wealth Management LLC increased its holdings in Nexstar Media Group by 6.9% in the 2nd quarter. Drive Wealth Management LLC now owns 1,254 shares of the company's stock valued at $217,000 after purchasing an additional 81 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.

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