Benchmark Lowers Nexstar Media Group (NASDAQ:NXST) Price Target to $250.00

Nexstar Media Group (NASDAQ:NXST) had its price target lowered by analysts at Benchmark from $300.00 to $250.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 38.60% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Guggenheim increased their target price on Nexstar Media Group from $250.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Nexstar Media Group from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Finally, Citigroup raised their price objective on Nexstar Media Group from $204.00 to $252.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $273.67.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $180.38 on Monday. The company’s fifty day moving average price is $225.61 and its 200-day moving average price is $208.23. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 61.35, a PEG ratio of 0.71 and a beta of 0.93. Nexstar Media Group has a one year low of $141.66 and a one year high of $254.30.

Institutional Trading of Nexstar Media Group

Several institutional investors have recently added to or reduced their stakes in the business. Torren Management LLC purchased a new position in shares of Nexstar Media Group in the fourth quarter worth about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Nexstar Media Group during the 3rd quarter valued at about $28,000. Root Financial Partners LLC bought a new position in Nexstar Media Group during the 3rd quarter worth approximately $31,000. WPG Advisers LLC grew its position in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Nexstar Media Group by 164.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock worth $40,000 after purchasing an additional 125 shares during the period. 95.30% of the stock is currently owned by hedge funds and other 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.