Citi analyst maintained a Buy rating on New York Times (NYT – Research Report) today and set a price target of $64.00. The company’s shares closed yesterday at $55.73.
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Currently, the analyst consensus on New York Times is a Moderate Buy with an average price target of $57.83, a 3.77% upside from current levels. In a report released on May 30, Deutsche Bank also maintained a Buy rating on the stock with a $69.00 price target.
Based on New York Times’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $635.91 million and a net profit of $49.55 million. In comparison, last year the company earned a revenue of $594.02 million and had a net profit of $40.42 million
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NYT in relation to earlier this year. Earlier this month, David S. Perpich, a Director at NYT sold 4,000.00 shares for a total of $224,720.00.
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