Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Receives Average Rating of “Reduce” from Analysts

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) has received an average recommendation of “Reduce” from the seven research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.3167.

CCO has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. Citigroup boosted their price objective on Clear Channel Outdoor from $1.35 to $2.10 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wells Fargo & Company upped their target price on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 12th. Zacks Research cut Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, TD Cowen reiterated a “buy” rating on shares of Clear Channel Outdoor in a research note on Monday, October 20th.

Clear Channel Outdoor Price Performance

NYSE:CCO opened at $2.20 on Thursday. Clear Channel Outdoor has a one year low of $0.81 and a one year high of $2.30. The company has a fifty day moving average price of $2.10 and a 200 day moving average price of $1.71. The stock has a market cap of $1.09 billion, a P/E ratio of -220.00 and a beta of 2.31.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Clear Channel Outdoor during the fourth quarter valued at approximately $31,000. Sanders Morris Harris LLC bought a new position in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $25,000. CWM LLC boosted its stake in Clear Channel Outdoor by 97.9% in the 3rd quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after buying an additional 8,248 shares in the last quarter. Burney Co. acquired a new stake in Clear Channel Outdoor in the 3rd quarter valued at $32,000. Finally, Zacks Investment Management bought a new stake in Clear Channel Outdoor in the third quarter valued at $36,000. 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.