Clear Channel Outdoor (NYSE:CCO) Hits New 1-Year High – What’s Next?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $2.39 and last traded at $2.3850, with a volume of 232515 shares changing hands. The stock had previously closed at $2.39.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Monday, December 29th. TD Cowen set a $2.50 price target on Clear Channel Outdoor in a report on Tuesday, February 10th. Wells Fargo & Company upped their price objective on shares of Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a report on Wednesday, November 12th. Wall Street Zen downgraded shares of Clear Channel Outdoor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Morgan Stanley set a $2.00 price target on shares of Clear Channel Outdoor in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clear Channel Outdoor has a consensus rating of “Reduce” and an average price target of $2.27.

Clear Channel Outdoor Stock Down 0.2%

The stock’s 50 day moving average price is $2.14 and its two-hundred day moving average price is $1.75. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -238.50 and a beta of 2.31.

Institutional Trading of Clear Channel Outdoor

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors purchased a new position in Clear Channel Outdoor during the fourth quarter valued at approximately $27,000. EntryPoint Capital LLC acquired a new position in shares of Clear Channel Outdoor in the 4th quarter valued at $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Clear Channel Outdoor during the fourth quarter worth $31,000. Sargent Investment Group LLC acquired a new stake in Clear Channel Outdoor during the fourth quarter valued at $33,000. Finally, Sanders Morris Harris LLC purchased a new position in Clear Channel Outdoor in the third quarter valued at $25,000. Hedge funds and other institutional investors 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.