Clear Channel Outdoor (NYSE:CCO) Price Target Lowered to $3.25 at Barrington Research

Clear Channel Outdoor (NYSE:CCOGet Rating) had its target price trimmed by Barrington Research from $5.00 to $3.25 in a research note released on Friday morning, The Fly reports.

A number of other brokerages also recently issued reports on CCO. Zacks Investment Research downgraded Clear Channel Outdoor from a buy rating to a hold rating in a research note on Monday, May 2nd. Morgan Stanley boosted their price objective on Clear Channel Outdoor from $3.50 to $3.75 and gave the company an equal weight rating in a research note on Monday, January 24th. Finally, StockNews.com initiated coverage on Clear Channel Outdoor in a research note on Thursday, March 31st. They set a hold rating for the company. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $3.13.

Shares of NYSE CCO traded up $0.13 during midday trading on Friday, hitting $1.88. 5,629,842 shares of the company’s stock traded hands, compared to its average volume of 3,287,679. Clear Channel Outdoor has a 1 year low of $1.69 and a 1 year high of $4.10. The stock has a market capitalization of $886.14 million, a price-to-earnings ratio of -4.48 and a beta of 2.38. The firm has a fifty day moving average of $3.13 and a 200 day moving average of $3.23.

Clear Channel Outdoor (NYSE:CCOGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The business services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). During the same quarter in the previous year, the firm earned ($0.42) EPS. On average, analysts predict that Clear Channel Outdoor will post -0.02 EPS for the current year.

In other Clear Channel Outdoor news, Director Lisa Hammitt sold 68,207 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $3.72, for a total value of $253,730.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CCO. Stratos Wealth Advisors LLC purchased a new stake in shares of Clear Channel Outdoor during the 4th quarter worth approximately $33,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Clear Channel Outdoor during the 1st quarter worth approximately $35,000. Wealth Advisors of Iowa LLC purchased a new stake in shares of Clear Channel Outdoor during the 1st quarter worth approximately $42,000. Sciencast Management LP purchased a new stake in shares of Clear Channel Outdoor during the 1st quarter worth approximately $45,000. Finally, Eudaimonia Advisors LLC purchased a new stake in shares of Clear Channel Outdoor during the 4th quarter worth approximately $48,000. 92.20% of the stock is currently owned by institutional investors and hedge funds.

About Clear Channel Outdoor (Get Rating)

Clear Channel Outdoor Holdings, Inc owns, operates, and sells advertising displays in the United States and internationally. It operates through two segments, Americas and Europe. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; spectaculars, which are customized display structures that incorporate videos, multidimensional lettering and figures, mechanical devices and moving parts, and other embellishments; wallscape, a display that drapes over or is suspended from the sides of buildings or other structures.

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