Guggenheim Raises Nexstar Media Group (NASDAQ:NXST) Price Target to $290.00

Nexstar Media Group (NASDAQ:NXST) had its price objective hoisted by Guggenheim from $250.00 to $290.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 17.81% from the company’s current price.

A number of other research analysts have also issued reports on NXST. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nexstar Media Group from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Finally, Citigroup lowered their price objective on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.50.

Nexstar Media Group Stock Up 5.9%

NXST opened at $246.16 on Friday. The business’s 50-day simple moving average is $216.70 and its 200-day simple moving average is $204.50. Nexstar Media Group has a one year low of $141.66 and a one year high of $254.30. The stock has a market capitalization of $7.47 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.85. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.87 and a current ratio of 1.87.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently bought and sold shares of NXST. Torren Management LLC bought a new position in shares of Nexstar Media Group during the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC bought a new stake in Nexstar Media Group during the third quarter worth approximately $28,000. Root Financial Partners LLC bought a new stake in Nexstar Media Group during the third quarter worth approximately $31,000. Allworth Financial LP grew its position in Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after buying an additional 179 shares during the last quarter. Finally, WPG Advisers LLC increased its holdings in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.