Clear Channel Outdoor (NYSE:CCO) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Clear Channel Outdoor (NYSE:CCOFree Report) in a report released on Tuesday morning, Benzinga reports. They currently have a $2.50 target price on the business services provider’s stock.

CCO has been the subject of several other research reports. Morgan Stanley raised their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. StockNews.com upgraded Clear Channel Outdoor from a sell rating to a hold rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $2.16.

View Our Latest Stock Analysis on Clear Channel Outdoor

Clear Channel Outdoor Trading Up 0.3 %

NYSE:CCO opened at $1.44 on Tuesday. Clear Channel Outdoor has a 1 year low of $1.04 and a 1 year high of $2.06. The stock has a 50-day moving average price of $1.54 and a two-hundred day moving average price of $1.62. The stock has a market cap of $701.30 million, a price-to-earnings ratio of -1.86 and a beta of 2.91.

Clear Channel Outdoor (NYSE:CCOGet Free Report) last posted its earnings results on Thursday, May 9th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $481.75 million for the quarter, compared to the consensus estimate of $480.69 million. During the same period in the previous year, the company posted ($0.23) earnings per share. Sell-side analysts forecast that Clear Channel Outdoor will post -0.25 earnings per share for the current year.

Institutional Trading of Clear Channel Outdoor

Institutional investors have recently added to or reduced their stakes in the company. Legion Partners Asset Management LLC increased its stake in Clear Channel Outdoor by 7.1% in the third quarter. Legion Partners Asset Management LLC now owns 26,530,196 shares of the business services provider’s stock valued at $41,918,000 after acquiring an additional 1,753,407 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Clear Channel Outdoor by 21.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock worth $5,658,000 after buying an additional 610,500 shares in the last quarter. CenterBook Partners LP lifted its position in shares of Clear Channel Outdoor by 183.3% during the 3rd quarter. CenterBook Partners LP now owns 2,777,537 shares of the business services provider’s stock worth $4,389,000 after buying an additional 1,797,154 shares during the last quarter. Gabelli Funds LLC boosted its stake in Clear Channel Outdoor by 6.6% in the first quarter. Gabelli Funds LLC now owns 2,275,000 shares of the business services provider’s stock valued at $3,754,000 after buying an additional 140,000 shares in the last quarter. Finally, Shenkman Capital Management Inc. grew its position in Clear Channel Outdoor by 70.9% in the third quarter. Shenkman Capital Management Inc. now owns 1,704,589 shares of the business services provider’s stock valued at $2,693,000 after acquiring an additional 707,389 shares during the last quarter. 85.52% of the stock is currently owned by institutional investors.

Clear Channel Outdoor Company Profile

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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.

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