Clear Channel Outdoor (NYSE:CCO) Reaches New 52-Week High – Here’s What Happened

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price reached a new 52-week high on Monday . The company traded as high as $2.43 and last traded at $2.4050, with a volume of 1631265 shares. The stock had previously closed at $2.40.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. TD Cowen set a $2.50 target price on shares of Clear Channel Outdoor in a research report on Tuesday, February 10th. Citigroup increased their price objective on shares of Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Morgan Stanley set a $2.00 price objective on shares of Clear Channel Outdoor in a report on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. Finally, Wells Fargo & Company increased their target price on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $2.22.

Clear Channel Outdoor Stock Performance

The stock has a market cap of $1.18 billion, a PE ratio of -237.50 and a beta of 2.31. The firm has a fifty day moving average price of $2.18 and a 200 day moving average price of $1.81.

Hedge Funds Weigh In On Clear Channel Outdoor

Several hedge funds have recently modified their holdings of CCO. Captrust Financial Advisors purchased a new position in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $27,000. EntryPoint Capital LLC acquired a new position in Clear Channel Outdoor during the 4th quarter valued at approximately $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Clear Channel Outdoor during the 4th quarter valued at approximately $31,000. Sargent Investment Group LLC purchased a new position in shares of Clear Channel Outdoor in the fourth quarter worth $33,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Clear Channel Outdoor during the third quarter worth $25,000. Institutional investors and hedge funds own 85.52% of the company’s stock.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.

Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.