ValuEngine upgraded shares of tronc, Inc. (NASDAQ:TRNC) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other analysts have also weighed in on TRNC. Zacks Investment Research raised shares of tronc from a hold rating to a buy rating and set a $15.00 price target for the company in a research note on Wednesday, August 9th. Noble Financial reaffirmed a buy rating on shares of tronc in a research note on Thursday, August 3rd.

tronc (TRNC) opened at 14.65 on Friday. The stock has a market capitalization of $481.88 million, a PE ratio of 41.04 and a beta of 1.74. The firm has a 50-day moving average of $14.49 and a 200-day moving average of $13.37. tronc has a one year low of $8.76 and a one year high of $15.90.

tronc (NASDAQ:TRNC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.35. The company had revenue of $369.79 million during the quarter, compared to analyst estimates of $375.05 million. tronc had a net margin of 0.83% and a return on equity of 63.98%. On average, equities research analysts forecast that tronc will post $0.37 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Quadrant L P CA bought a new stake in shares of tronc in the 3rd quarter worth approximately $225,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of tronc by 10.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 21,972 shares of the company’s stock worth $283,000 after purchasing an additional 2,162 shares in the last quarter. Susquehanna International Group LLP raised its holdings in shares of tronc by 226.5% in the 2nd quarter. Susquehanna International Group LLP now owns 32,649 shares of the company’s stock worth $421,000 after purchasing an additional 22,649 shares in the last quarter. State Street Corp raised its holdings in shares of tronc by 2.6% in the 2nd quarter. State Street Corp now owns 449,834 shares of the company’s stock worth $5,798,000 after purchasing an additional 11,479 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its holdings in shares of tronc by 30.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 178,101 shares of the company’s stock worth $2,295,000 after purchasing an additional 41,200 shares in the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

tronc Company Profile

tronc, Inc, formerly Tribune Publishing Company, is a media company. As of December 25, 2016, the Company operated over 150 titles in nine markets. Its portfolio of news and information brands are in markets, including Los Angeles and San Diego, California; Chicago, Illinois; Fort Lauderdale and Orlando, Florida; Baltimore, Maryland; Hartford, Connecticut; Allentown, Pennsylvania, and Newport News, Virginia.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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