Sinclair Broadcast (SBGI) was Upgraded to a Hold Rating at Wells Fargo
In a report released yesterday, Steven Cahall from Wells Fargo upgraded Sinclair Broadcast (SBGI) to Hold. The company’s shares closed last Wednesday at $28.30.
According to TipRanks.com, Cahall is a 1-star analyst with an average return of -0.8% and a 49.4% success rate. Cahall covers the Services sector, focusing on stocks such as Walt Disney, Discovery, and Netflix.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sinclair Broadcast with a $21.67 average price target.
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The company has a one-year high of $34.31 and a one-year low of $10.58. Currently, Sinclair Broadcast has an average volume of 1.25M.
Based on the recent corporate insider activity of 40 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 SBGI in relation to earlier this year.
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Sinclair Broadcast Group, Inc. is a television broadcasting company, which engages in the provision of content on local television stations and digital and other platforms. It operates through Broadcast segment. The Broadcast segment provides free over-the-air programming to television viewing audiences in the communities through local television stations. Its primary channels consists of network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming. The company was founded by Julian Sinclair Smith in 1986 and is headquartered in Hunt Valley, MD.