tronc, Inc. (TRNC) Upgraded by ValuEngine to “Buy”
tronc, Inc. (NASDAQ:TRNC) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.
TRNC has been the topic of a number of other reports. Noble Financial reaffirmed a “buy” rating on shares of tronc in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of tronc from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 4th.
tronc (NASDAQ TRNC) traded down 0.74% during midday trading on Friday, reaching $14.72. 61,020 shares of the company traded hands. tronc has a 12-month low of $8.76 and a 12-month high of $16.80. The stock has a market capitalization of $484.18 million, a P/E ratio of 41.23 and a beta of 1.74. The company has a 50 day moving average of $14.47 and a 200-day moving average of $13.37.
tronc (NASDAQ:TRNC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.35. tronc had a net margin of 0.83% and a return on equity of 63.98%. The firm had revenue of $369.79 million for the quarter, compared to analyst estimates of $375.05 million. Equities analysts anticipate that tronc will post $0.37 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the business. Hosking Partners LLP lifted its stake in shares of tronc by 1.7% in the second quarter. Hosking Partners LLP now owns 47,174 shares of the company’s stock valued at $608,000 after buying an additional 795 shares in the last quarter. American International Group Inc. lifted its stake in shares of tronc by 7.1% in the first quarter. American International Group Inc. now owns 16,420 shares of the company’s stock valued at $229,000 after buying an additional 1,082 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of tronc by 10.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 21,972 shares of the company’s stock valued at $283,000 after buying an additional 2,162 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of tronc by 21.7% in the second quarter. Voya Investment Management LLC now owns 13,748 shares of the company’s stock valued at $177,000 after buying an additional 2,451 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of tronc by 11.7% in the second quarter. Wells Fargo & Company MN now owns 23,927 shares of the company’s stock valued at $308,000 after buying an additional 2,507 shares in the last quarter. 35.88% of the stock is currently owned by hedge funds and other institutional investors.
tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.
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