Clear Channel Outdoor (NYSE:CCO) Earns Outperform Rating from Barrington Research

Clear Channel Outdoor (NYSE:CCO)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a report issued on Monday,Benzinga reports. They presently have a $2.50 price objective on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 90.11% from the stock’s previous close.

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

Clear Channel Outdoor Stock Performance

NYSE CCO opened at $1.32 on Monday. The business’s 50 day moving average price is $1.40 and its 200-day moving average price is $1.50. Clear Channel Outdoor has a fifty-two week low of $1.29 and a fifty-two week high of $2.06. The company has a market cap of $643.14 million, a P/E ratio of -4.53 and a beta of 3.03.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds and other institutional investors have recently modified their holdings of CCO. Jane Street Group LLC grew its position in Clear Channel Outdoor by 56.7% in the 3rd quarter. Jane Street Group LLC now owns 1,116,893 shares of the business services provider’s stock valued at $1,787,000 after acquiring an additional 404,082 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Clear Channel Outdoor in the third quarter worth about $1,730,000. Barclays PLC grew its holdings in shares of Clear Channel Outdoor by 271.2% in the third quarter. Barclays PLC now owns 520,663 shares of the business services provider’s stock worth $833,000 after purchasing an additional 380,408 shares during the last quarter. Victory Capital Management Inc. increased its stake in 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 during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Clear Channel Outdoor by 0.8% during 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 buying an additional 54,566 shares in the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Clear Channel Outdoor Company Profile

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.