Zacks Investment Research cut shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a report published on Thursday morning.

According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “

A number of other equities analysts also recently issued reports on the stock. BidaskClub raised shares of Time from a sell rating to a hold rating in a report on Wednesday, June 28th. Wells Fargo & Company downgraded shares of Time from an outperform rating to a market perform rating in a report on Friday, April 28th. Macquarie downgraded shares of Time from an outperform rating to a neutral rating and set a $15.00 price objective on the stock. in a report on Thursday, June 15th. Finally, ValuEngine downgraded shares of Time from a buy rating to a hold rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $15.33.

Time (NYSE TIME) traded down 1.77% during mid-day trading on Thursday, hitting $13.85. 818,271 shares of the stock traded hands. The company’s 50 day moving average price is $13.79 and its 200-day moving average price is $16.65. Time has a 1-year low of $11.65 and a 1-year high of $20.40. The stock’s market cap is $1.38 billion.

Time (NYSE:TIME) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. The business had revenue of $636 million during the quarter, compared to analysts’ expectations of $641.85 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) EPS. Analysts predict that Time will post $1.18 earnings per share for the current year.

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In other news, Director Ronald S. Rolfe bought 2,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were bought at an average price of $12.85 per share, for a total transaction of $25,700.00. Following the purchase, the director now owns 32,147 shares in the company, valued at $413,088.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis J. Fitzsimons bought 3,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $11.99 per share, for a total transaction of $35,970.00. Following the purchase, the director now owns 30,674 shares in the company, valued at approximately $367,781.26. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 6,000 shares of company stock worth $74,600. 1.92% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. boosted its stake in Time by 101.6% in the second quarter. Sit Investment Associates Inc. now owns 36,900 shares of the company’s stock worth $530,000 after buying an additional 18,600 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Time by 62.0% in the second quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the company’s stock worth $581,000 after buying an additional 15,500 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Time by 3.3% in the second quarter. Meeder Asset Management Inc. now owns 44,941 shares of the company’s stock worth $645,000 after buying an additional 1,430 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Time during the second quarter worth approximately $281,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Time during the second quarter worth approximately $436,000. Institutional investors own 90.67% of the company’s stock.

Time Company Profile

Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.

Analyst Recommendations for Time (NYSE:TIME)

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