OUTFRONT Media (NYSE:OUT) Raised to “Strong-Buy” at Zacks Research

OUTFRONT Media (NYSE:OUT) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

OUT has been the subject of several other research reports. Wall Street Zen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. JPMorgan Chase & Co. raised shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $25.00 in a report on Wednesday, November 12th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of OUTFRONT Media in a report on Thursday, December 18th. Morgan Stanley upgraded shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $28.00 in a research report on Tuesday, December 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $24.57.

OUTFRONT Media Stock Up 1.7%

OUT stock opened at $24.87 on Monday. The business’s 50-day moving average price is $23.89 and its 200-day moving average price is $20.34. The stock has a market cap of $4.16 billion, a P/E ratio of 36.57, a PEG ratio of 1.23 and a beta of 1.57. OUTFRONT Media has a twelve month low of $12.95 and a twelve month high of $25.51. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share 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 during the quarter, compared to the consensus estimate of $458.32 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that OUTFRONT Media will post 1.59 EPS for the current year.

Insider Buying and Selling

In related news, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $24.49, for a total value of $276,026.79. Following the transaction, the director owned 47,515 shares in the company, valued at approximately $1,163,642.35. This represents a 19.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in OUTFRONT Media by 9.3% in the first quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider’s stock valued at $2,105,000 after purchasing an additional 11,073 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in OUTFRONT Media by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider’s stock valued at $1,388,000 after acquiring an additional 1,739 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock valued at $80,393,000 after buying an additional 448,993 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of OUTFRONT Media by 12.4% during the 1st quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 2,357 shares during the period. Finally, Woodline Partners LP boosted its position in shares of OUTFRONT Media by 45.6% during the 1st quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider’s stock valued at $595,000 after acquiring an additional 11,559 shares during the last quarter.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.