Live Nation Entertainment (NYSE:LYV) Price Target Raised to $170.00 at JPMorgan Chase & Co.

Live Nation Entertainment (NYSE:LYV) had its price objective increased by JPMorgan Chase & Co. from $150.00 to $170.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 13.81% from the company’s current price.

LYV has been the subject of a number of other reports. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Oppenheimer upped their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upped their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Macquarie increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Bank of America increased their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $154.27.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $149.37 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market cap of $34.71 billion, a PE ratio of 54.92, a PEG ratio of 1.81 and a beta of 1.38. The company’s 50-day moving average is $139.23 and its two-hundred day moving average is $122.52. Live Nation Entertainment has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds have recently made changes to their positions in LYV. Creative Planning grew its stake in shares of Live Nation Entertainment by 3.2% during the 3rd quarter. Creative Planning now owns 29,405 shares of the company’s stock worth $3,220,000 after acquiring an additional 904 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Live Nation Entertainment by 385.3% during the 3rd quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $58,000 after acquiring an additional 420 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Live Nation Entertainment by 17.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock worth $316,000 after acquiring an additional 434 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Live Nation Entertainment by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after buying an additional 89 shares during the last quarter. Finally, Hartford Investment Management Co. boosted its holdings in shares of Live Nation Entertainment by 8.0% in the 3rd quarter. Hartford Investment Management Co. now owns 9,880 shares of the company’s stock valued at $1,082,000 after buying an additional 730 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.