Wells Fargo & Company Forecasts Strong Price Appreciation for Clear Channel Outdoor (NYSE:CCO) Stock

Clear Channel Outdoor (NYSE:CCO) had its price target upped by equities research analysts at Wells Fargo & Company from $1.50 to $2.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.30% from the company’s previous close.

Several other equities research analysts have also issued reports on CCO. Zacks Research raised shares of Clear Channel Outdoor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $2.00 price target on Clear Channel Outdoor in a research report on Monday. Wall Street Zen cut Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup raised their price target 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. Finally, Cowen reaffirmed a “buy” rating on shares of Clear Channel Outdoor in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.32.

Clear Channel Outdoor Trading Down 0.3%

Shares of NYSE CCO traded down $0.01 during midday trading on Wednesday, reaching $1.96. 637,721 shares of the company were exchanged, compared to its average volume of 2,749,577. Clear Channel Outdoor has a 1 year low of $0.81 and a 1 year high of $2.03. The stock has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.30. The stock has a market cap of $971.66 million, a P/E ratio of 48.89 and a beta of 2.63.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Thursday, November 6th. The business services provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $405.64 million during the quarter, compared to analysts’ expectations of $402.03 million. Clear Channel Outdoor has set its Q4 2025 guidance at EPS.

Insider Buying and Selling at Clear Channel Outdoor

In other news, major shareholder Ares Management Llc sold 13,000,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total value of $14,690,000.00. Following the sale, the insider owned 41,197,491 shares of the company’s stock, valued at approximately $46,553,164.83. This represents a 23.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds have recently bought and sold shares of CCO. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Clear Channel Outdoor in the 2nd quarter valued at about $3,510,000. Readystate Asset Management LP lifted its position in shares of Clear Channel Outdoor by 37.9% in the first quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider’s stock worth $6,957,000 after purchasing an additional 1,723,417 shares in the last quarter. Jane Street Group LLC boosted its holdings in Clear Channel Outdoor by 252.5% during the second quarter. Jane Street Group LLC now owns 2,347,451 shares of the business services provider’s stock worth $2,747,000 after purchasing an additional 1,681,454 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Clear Channel Outdoor in the 2nd quarter valued at $1,861,000. Finally, Nuveen LLC bought a new stake in Clear Channel Outdoor during the 1st quarter worth about $1,612,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.