Nexstar Media Group (NASDAQ:NXST) Stock Rating Upgraded by Zacks Research

Nexstar Media Group (NASDAQ:NXST) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Barrington Research reissued an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Benchmark lowered their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Citigroup upgraded shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Finally, Guggenheim raised their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $259.67.

Nexstar Media Group Trading Up 0.7%

NASDAQ:NXST opened at $197.30 on Wednesday. Nexstar Media Group has a 12 month low of $164.00 and a 12 month high of $254.30. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 42.34, a P/E/G ratio of 0.56 and a beta of 0.97. The company has a quick ratio of 2.07, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The company’s 50 day moving average is $209.01 and its 200-day moving average is $208.18.

Institutional Investors Weigh In On Nexstar Media Group

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Nexstar Media Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock worth $284,738,000 after buying an additional 10,949 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Nexstar Media Group by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock worth $239,950,000 after buying an additional 23,360 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock worth $152,598,000 after buying an additional 187,864 shares in the last quarter. Geode Capital Management LLC boosted its stake in Nexstar Media Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after buying an additional 13,084 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Nexstar Media Group by 13.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock worth $127,070,000 after buying an additional 75,228 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Nexstar Media Group

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.