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

Clear Channel Outdoor (NYSE:CCO)‘s stock had its “outperform” rating reissued by stock analysts at Barrington Research in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $2.50 target price on the business services provider’s stock. Barrington Research’s price target would suggest a potential upside of 83.15% from the stock’s current price.

Separately, TD Cowen reduced their target price on 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 Up 1.1 %

Shares of CCO traded up $0.02 during trading hours on Monday, reaching $1.37. 1,091,243 shares of the company traded hands, compared to its average volume of 1,064,322. The stock has a market capitalization of $667.59 million, a PE ratio of -4.74 and a beta of 3.03. The stock has a fifty day simple moving average of $1.41 and a 200 day simple moving average of $1.50. Clear Channel Outdoor has a fifty-two week low of $1.29 and a fifty-two week high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings data on Monday, February 24th. The business services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04).

Hedge Funds Weigh In On Clear Channel Outdoor

A number of large investors have recently modified their holdings of CCO. Crewe Advisors LLC acquired a new position in Clear Channel Outdoor during the third quarter valued at approximately $32,000. Ground Swell Capital LLC acquired a new position in shares of Clear Channel Outdoor during the 3rd quarter valued at $34,000. Graham Capital Management L.P. purchased a new stake in Clear Channel Outdoor during the 4th quarter worth $36,000. Cibc World Markets Corp acquired a new stake in Clear Channel Outdoor in the 4th quarter valued at $45,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Clear Channel Outdoor during the fourth quarter worth about $53,000. 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.