OUTFRONT Media (NYSE:OUT) Hits New 12-Month High – Time to Buy?

OUTFRONT Media Inc. (NYSE:OUT) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $25.79 and last traded at $25.59, with a volume of 31065 shares traded. The stock had previously closed at $25.47.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OUT shares. Morgan Stanley raised OUTFRONT Media from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $28.00 in a research report on Tuesday, December 16th. Wells Fargo & Company reissued an “overweight” rating and set a $27.00 price target (up from $23.00) on shares of OUTFRONT Media in a research report on Thursday, December 18th. TD Cowen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. upgraded shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $25.00 in a research note on Wednesday, November 12th. Finally, Barrington Research reissued an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat.com, OUTFRONT Media currently has a consensus rating of “Buy” and an average target price of $24.57.

OUTFRONT Media Stock Up 0.8%

The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 39.56, a PEG ratio of 1.33 and a beta of 1.56. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.79 and a current ratio of 0.79. The business’s 50 day moving average is $24.31 and its 200 day moving average is $20.72.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.The company had revenue of $467.50 million during the quarter, compared to analysts’ expectations of $458.32 million. During the same period in the prior year, the business posted $0.19 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

Insider Buying and Selling

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $24.49, for a total transaction of $276,026.79. Following the sale, the director owned 47,515 shares in the company, valued at approximately $1,163,642.35. The trade was a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

Hedge funds have recently added to or reduced their stakes in the business. Evoke Wealth LLC purchased a new position in shares of OUTFRONT Media during the 4th quarter valued at about $1,500,000. Handelsbanken Fonder AB raised its position in OUTFRONT Media by 45.1% during the fourth quarter. Handelsbanken Fonder AB now owns 66,918 shares of the financial services provider’s stock valued at $1,613,000 after acquiring an additional 20,800 shares in the last quarter. ProShare Advisors LLC raised its position in OUTFRONT Media by 9.0% during the fourth quarter. ProShare Advisors LLC now owns 28,727 shares of the financial services provider’s stock valued at $692,000 after acquiring an additional 2,364 shares in the last quarter. HighTower Advisors LLC boosted its position in OUTFRONT Media by 9.1% in the 4th quarter. HighTower Advisors LLC now owns 18,396 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 1,528 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of OUTFRONT Media during the 4th quarter worth approximately $204,000.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.