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

Barrington Research restated their outperform rating on shares of Clear Channel Outdoor (NYSE:CCO) in a research report released on Monday morning,Benzinga reports. Barrington Research currently has a $2.50 price objective on the business services provider’s stock.

Separately, TD Cowen decreased their target price on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note on Friday, November 1st.

Clear Channel Outdoor Trading Down 1.1 %

NYSE CCO opened at $1.34 on Monday. The company has a 50-day moving average price of $1.41 and a two-hundred day moving average price of $1.50. The stock has a market cap of $652.92 million, a price-to-earnings ratio of -4.60 and a beta of 3.03. Clear Channel Outdoor has a 52 week low of $1.29 and a 52 week high of $2.06.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Clear Channel Outdoor in the 3rd quarter worth approximately $32,000. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor during the third quarter valued at $34,000. Graham Capital Management L.P. acquired a new position in Clear Channel Outdoor during the fourth quarter valued at $36,000. Cibc World Markets Corp purchased a new stake in Clear Channel Outdoor in the 4th quarter worth about $45,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Clear Channel Outdoor during the 4th quarter valued at about $53,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

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.