Barrington Research Reiterates "Outperform" Rating for Nexstar Media Group (NASDAQ:NXST)

Key Points

• Barrington Research reiterated an "Outperform" rating on Nexstar Media Group with a $290 price target, implying about a 41.8% upside from the current price cited in the article.
• Overall analyst coverage is cautiously positive—six analysts rate NXST a Buy and two a Hold, yielding a consensus "Moderate Buy" and an average price target of $268.33.
• Nexstar shares were trading around $204.45 in the report, with a market cap of $6.2 billion, a high P/E of 69.1, and a 12‑month range of $141.66–$254.30, indicating elevated valuation relative to recent price history.

Nexstar Media Group (NASDAQ:NXST - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Barrington Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $290.00 target price on the stock. Barrington Research's price objective points to a potential upside of 41.84% from the company's current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a "hold (c+)" rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Benchmark decreased their target price on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and decreased their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Wells Fargo & Company lifted their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, February 27th. Finally, Guggenheim boosted their target price on Nexstar Media Group from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $268.33.

Nexstar Media Group Trading Down 0.2%

Shares of NXST traded down $0.35 during trading hours on Tuesday, hitting $204.45. The stock had a trading volume of 25,159 shares, compared to its average volume of 395,187. The company has a debt-to-equity ratio of 3.05, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $6.20 billion, a P/E ratio of 69.10, a P/E/G ratio of 0.80 and a beta of 0.93. The company's fifty day simple moving average is $217.36 and its 200 day simple moving average is $207.64. Nexstar Media Group has a 12-month low of $141.66 and a 12-month high of $254.30.

Hedge Funds Weigh In On Nexstar Media Group

Hedge funds have recently modified their holdings of the stock. Torren Management LLC purchased a new position in Nexstar Media Group during the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group during the 3rd quarter valued at approximately $28,000. Root Financial Partners LLC acquired a new stake in Nexstar Media Group in the 3rd quarter valued at $31,000. WPG Advisers LLC grew its stake in Nexstar Media Group by 65.7% in the 4th quarter. WPG Advisers LLC now owns 179 shares of the company's stock valued at $36,000 after acquiring an additional 71 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company's stock valued at $40,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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