Clear Channel Outdoor’s (CCO) “Outperform” Rating Reaffirmed at Barrington Research

Clear Channel Outdoor (NYSE:CCO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Barrington Research in a research report issued on Monday,Benzinga reports. They presently have a $2.50 price target on the business services provider’s stock. Barrington Research’s price target would suggest a potential upside of 83.15% from the stock’s current price.

Separately, TD Cowen cut their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research report on Friday, November 1st.

Clear Channel Outdoor Stock Up 1.1 %

NYSE:CCO traded up $0.02 during midday trading on Monday, reaching $1.37. The stock had a trading volume of 1,091,243 shares, compared to its average volume of 1,064,322. The stock has a market cap of $667.59 million, a P/E ratio of -4.74 and a beta of 3.03. Clear Channel Outdoor has a 12-month low of $1.29 and a 12-month high of $2.06. The firm has a fifty day simple moving average of $1.41 and a two-hundred day simple moving average of $1.50.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Monday, February 24th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04).

Institutional Investors Weigh In On Clear Channel Outdoor

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC raised its holdings in Clear Channel Outdoor by 56.7% during the third quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock worth $1,787,000 after purchasing an additional 404,082 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Clear Channel Outdoor in the third quarter valued at $1,730,000. Barclays PLC raised its stake in shares of Clear Channel Outdoor by 271.2% during the 3rd quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock worth $833,000 after buying an additional 380,408 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Clear Channel Outdoor by 5.4% in the 3rd quarter. Victory Capital Management Inc. now owns 759,013 shares of the business services provider’s stock worth $1,214,000 after buying an additional 38,913 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Clear Channel Outdoor by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,761,198 shares of the business services provider’s stock valued at $10,818,000 after acquiring an additional 54,566 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.