Wells Fargo & Company Issues Positive Forecast for Clear Channel Outdoor (NYSE:CCO) Stock Price

Clear Channel Outdoor (NYSE:CCO) had its target price raised by Wells Fargo & Company from $2.00 to $2.43 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. Zacks Research downgraded Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. TD Cowen set a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Tuesday, February 10th. Wall Street Zen downgraded shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Morgan Stanley set a $2.00 price target on Clear Channel Outdoor in a report on Monday, November 10th. 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, Clear Channel Outdoor presently has a consensus rating of “Reduce” and a consensus price target of $2.31.

Clear Channel Outdoor Stock Performance

NYSE CCO traded up $0.02 on Friday, hitting $2.40. 5,353,306 shares of the stock were exchanged, compared to its average volume of 9,466,874. Clear Channel Outdoor has a 52-week low of $0.81 and a 52-week high of $2.43. The firm has a market capitalization of $1.19 billion, a P/E ratio of 47.91 and a beta of 2.31. The stock has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $1.83.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $461.52 million for the quarter, compared to the consensus estimate of $449.10 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors purchased a new stake in shares of Clear Channel Outdoor during the fourth quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Clear Channel Outdoor in the 4th quarter valued at $31,000. Sargent Investment Group LLC acquired a new position in Clear Channel Outdoor during the 4th quarter worth about $33,000. Finally, Sanders Morris Harris LLC acquired a new position in Clear Channel Outdoor during the 3rd quarter worth about $25,000. 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 (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.