USA Today (NYSE:TDAY) Hits New 12-Month High – Here’s Why

Shares of USA Today Co. (NYSE:TDAY) hit a new 52-week high on Tuesday . The stock traded as high as $9.14 and last traded at $8.98, with a volume of 2479468 shares traded. The stock had previously closed at $8.69.

Analyst Ratings Changes

A number of analysts recently weighed in on TDAY shares. New Street Research set a $8.05 price objective on shares of USA Today in a research note on Friday, June 5th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 target price on shares of USA Today in a research report on Thursday, June 4th. Wall Street Zen lowered shares of USA Today from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Citigroup reaffirmed an “outperform” rating on shares of USA Today in a research report on Tuesday, July 14th. Finally, Citizens Jmp increased their price objective on shares of USA Today from $8.00 to $10.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.03.

USA Today Price Performance

The company has a market cap of $1.32 billion, a PE ratio of 149.69 and a beta of 1.40. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 6.33. The firm has a 50 day simple moving average of $8.27 and a 200-day simple moving average of $7.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. KBC Group NV purchased a new stake in USA Today during the first quarter valued at approximately $31,000. Public Employees Retirement System of Ohio purchased a new position in USA Today in the fourth quarter worth $45,000. PharVision Advisers LLC acquired a new position in shares of USA Today during the third quarter worth $51,000. Public Employees Retirement Association of Colorado acquired a new position in shares of USA Today during the fourth quarter worth $53,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of USA Today by 1,130.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 12,749 shares of the company’s stock valued at $53,000 after purchasing an additional 11,713 shares during the last quarter. Hedge funds and other institutional investors own 76.71% of the company’s stock.

USA Today Company Profile

Gannett Co, Inc (NYSE: GCI) is a media and marketing solutions company headquartered in McLean, Virginia. As the largest U.S. newspaper publisher by circulation, Gannett publishes USA Today alongside more than 260 local news brands. The company’s multimedia platforms include daily and weekly newspapers, websites, mobile apps and a network of subscription-based digital products.

In addition to journalism and content production, Gannett offers a suite of digital marketing services designed to help small and medium-sized businesses grow online.