OUTFRONT Media (NYSE:OUT) Rating Increased to Buy at Wall Street Zen

OUTFRONT Media (NYSE:OUT) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

OUT has been the subject of several other research reports. Citigroup reissued a “buy” rating and issued a $23.00 price objective (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday. TD Cowen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday. New Street Research set a $24.00 price target on shares of OUTFRONT Media in a research report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Finally, JPMorgan Chase & Co. upgraded OUTFRONT Media from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $25.00 in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

OUTFRONT Media Stock Performance

Shares of OUTFRONT Media stock opened at $22.05 on Friday. The business’s 50 day moving average price is $18.46 and its 200 day moving average price is $17.54. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 1.27 and a beta of 1.82. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.61 and a current ratio of 0.79. OUTFRONT Media has a one year low of $12.95 and a one year high of $22.17.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.The firm had revenue of $467.50 million for the quarter, compared to analyst estimates of $458.32 million. During the same quarter in the prior year, the business earned $0.19 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that OUTFRONT Media will post 1.59 EPS for the current year.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, EVP Mark Emilio Bonanni sold 4,126 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the sale, the executive vice president owned 4,170 shares of the company’s stock, valued at approximately $80,814.60. This trade represents a 49.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the sale, the insider owned 8,913,813 shares in the company, valued at $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of OUTFRONT Media

Several institutional investors and hedge funds have recently made changes to their positions in the company. New Age Alpha Advisors LLC grew its position in OUTFRONT Media by 162.1% in the 1st quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider’s stock valued at $1,996,000 after buying an additional 76,486 shares during the last quarter. Nordea Investment Management AB purchased a new position in OUTFRONT Media during the 2nd quarter worth $5,414,000. Moody National Bank Trust Division acquired a new stake in shares of OUTFRONT Media in the 2nd quarter worth $295,000. Assetmark Inc. boosted its holdings in shares of OUTFRONT Media by 46,052.7% in the first quarter. Assetmark Inc. now owns 41,999 shares of the financial services provider’s stock valued at $678,000 after acquiring an additional 41,908 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new position in shares of OUTFRONT Media during the first quarter worth about $7,086,000.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.