5 Best Undervalued UK Stocks to Invest In

4. ITV plc (LSE:ITV.L)

Number of Hedge Fund Holders: N/A

P/E Ratio: 11.47

The British multinational media company, ITV plc (LSE:ITV.L) stands fourth on our list of the best undervalued UK stocks to buy. In April 2020, the company’s shares slumped, reaching GBX 54.42, due to the Covid-related market clampdown. However, in the past year, the stock returned 36.90% and is expected to grow by 24.3% in the coming years.

Recently, Morgan Stanley raised its price target on ITV plc (LSE:ITV.L) to GBP 190, while keeping an Overweight rating on the shares. In 2020, ITV plc (LSE:ITV.L) reported revenue of £2.78 billion, down 16% from the prior-year quarter.

ITV plc (LSE:ITV.L) is one of the largest media companies in the UK as it holds 13 of the 15 regional television licenses. The company currently pays an annual dividend of GBX 5.40 per share, yielding 4.64%. ITV plc (LSE:ITV.L) has a trailing twelve months P/E ratio of 11.47.