Guggenheim Forecasts Strong Price Appreciation for Nexstar Media Group (NASDAQ:NXST) Stock

Nexstar Media Group (NASDAQ:NXST) had its price target lifted by investment analysts at Guggenheim from $250.00 to $290.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 17.81% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Citigroup lowered their price objective on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised their target price on Nexstar Media Group from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.50.

Nexstar Media Group Stock Performance

Shares of NXST opened at $246.16 on Friday. The company has a 50-day moving average of $216.70 and a two-hundred day moving average of $204.50. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.91 and a beta of 0.85. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87. Nexstar Media Group has a one year low of $141.66 and a one year high of $254.30.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently bought and sold shares of the stock. Torren Management LLC bought a new stake in shares of Nexstar Media Group during the 4th quarter worth 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 acquired a new position in Nexstar Media Group during the third quarter valued at approximately $31,000. WPG Advisers LLC grew its holdings in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares during the period. 95.30% of the stock is currently owned by institutional investors.

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.