Clear Channel Outdoor’s (CCO) “Average” Rating Reiterated at BMO Capital Markets

Posted by Shane Hupp on Feb 12th, 2019 // No Comments

Clear Channel Outdoor (NYSE:CCO)‘s stock had its “average” rating reaffirmed by investment analysts at BMO Capital Markets in a report released on Tuesday. They currently have a $17.50 target price on the business services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 230.19% from the stock’s previous close.

Several other analysts have also commented on the stock. ValuEngine lowered shares of Clear Channel Outdoor from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. Zacks Investment Research lowered shares of Clear Channel Outdoor from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Wolfe Research began coverage on shares of Clear Channel Outdoor in a research report on Friday, December 7th. They issued an “outperform” rating on the stock. Finally, Barrington Research reiterated a “hold” rating on shares of Clear Channel Outdoor in a research report on Thursday, November 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $11.75.

CCO stock opened at $5.30 on Tuesday. Clear Channel Outdoor has a 12 month low of $4.22 and a 12 month high of $6.38.

A number of hedge funds and other institutional investors have recently made changes to their positions in CCO. Schwab Charles Investment Management Inc. boosted its position in Clear Channel Outdoor by 23.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 167,524 shares of the business services provider’s stock worth $721,000 after acquiring an additional 31,851 shares during the last quarter. BlackRock Inc. boosted its position in Clear Channel Outdoor by 8.1% during the second quarter. BlackRock Inc. now owns 2,541,788 shares of the business services provider’s stock worth $10,930,000 after acquiring an additional 190,084 shares during the last quarter. Northern Trust Corp boosted its position in Clear Channel Outdoor by 4.3% during the second quarter. Northern Trust Corp now owns 542,933 shares of the business services provider’s stock worth $2,334,000 after acquiring an additional 22,619 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Clear Channel Outdoor during the third quarter worth approximately $119,000. Finally, Gamco Investors INC. ET AL boosted its position in Clear Channel Outdoor by 2.4% during the third quarter. Gamco Investors INC. ET AL now owns 2,570,122 shares of the business services provider’s stock worth $15,292,000 after acquiring an additional 60,000 shares during the last quarter. Hedge funds and other institutional investors own 8.83% of the company’s stock.

About Clear Channel Outdoor

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates in two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

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