Clear Channel Outdoor (NYSE:CCO) Reaches New 12-Month High – What’s Next?

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) reached a new 52-week high during trading on Monday . The stock traded as high as $2.43 and last traded at $2.4050, with a volume of 1631265 shares traded. The stock had previously closed at $2.40.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Clear Channel Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Wells Fargo & Company upped their price target 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. Morgan Stanley set a $2.00 price objective on shares of Clear Channel Outdoor in a research note on Monday, November 10th. Citigroup upped their target price on 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $2.27.

Clear Channel Outdoor Price Performance

The stock’s 50-day moving average price is $2.17 and its 200 day moving average price is $1.79. The firm has a market capitalization of $1.19 billion, a PE ratio of -239.50 and a beta of 2.31.

Institutional Investors Weigh In On Clear Channel Outdoor

Several hedge funds have recently made changes to their positions in CCO. Sanders Morris Harris LLC bought a new position in shares of Clear Channel Outdoor during the 3rd quarter worth $25,000. CWM LLC raised its holdings in shares of Clear Channel Outdoor by 97.9% in the third quarter. CWM LLC now owns 16,675 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 8,248 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Clear Channel Outdoor in the fourth quarter worth about $27,000. EntryPoint Capital LLC bought a new position in Clear Channel Outdoor during the 4th quarter worth about $28,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Clear Channel Outdoor during the 4th quarter valued at about $31,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

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.