New York Times (NYSE:NYT) Stock Rating Lowered by StockNews.com

New York Times (NYSE:NYT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other brokerages have also issued reports on NYT. JPMorgan Chase & Co. increased their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Price Performance

Shares of NYSE:NYT traded down $6.69 during mid-day trading on Wednesday, hitting $49.21. The company had a trading volume of 5,549,081 shares, compared to its average volume of 1,707,325. New York Times has a one year low of $41.55 and a one year high of $58.16. The firm has a fifty day moving average price of $53.52 and a 200 day moving average price of $54.12. The company has a market capitalization of $8.07 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. Research analysts expect that New York Times will post 1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New York Times

A number of institutional investors have recently added to or reduced their stakes in NYT. Franklin Resources Inc. grew its holdings in shares of New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares in the last quarter. Comgest Global Investors S.A.S. boosted its position in New York Times by 3.2% in the third quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock worth $25,721,000 after purchasing an additional 14,407 shares during the last quarter. BNP Paribas Financial Markets grew its stake in New York Times by 95.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock valued at $4,571,000 after purchasing an additional 40,058 shares during the period. Clark & Stuart Inc purchased a new stake in shares of New York Times during the 4th quarter valued at $8,490,000. Finally, Park Avenue Securities LLC raised its stake in shares of New York Times by 236.0% during the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock worth $728,000 after purchasing an additional 9,823 shares during the period. 95.37% of the stock is owned by institutional investors.

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.