Zacks Investment Research upgraded shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) from a hold rating to a strong-buy rating in a research report released on Friday. They currently have $6.00 price target on the business services provider’s stock.

According to Zacks, “Clear Channel Outdoor Holdings, based in San Antonio, TX, is a global leader in outdoor advertising displays in countries across continents. In the United States, the company operates advertising displays and has a presence of the top DMA regions. It manages a large portion of Spectacular Displays in Times Square as well as Airport, Taxi and Mall advertising worldwide. Adshel is the company’s International street furniture division. “

A number of other equities analysts have also recently commented on the stock. BidaskClub upgraded shares of Clear Channel Outdoor Holdings from a sell rating to a hold rating in a research report on Friday, June 30th. ValuEngine cut shares of Clear Channel Outdoor Holdings from a hold rating to a sell rating in a research report on Friday, June 2nd. Finally, TheStreet cut shares of Clear Channel Outdoor Holdings from a c rating to a d rating in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Clear Channel Outdoor Holdings has a consensus rating of Hold and an average price target of $7.81.

Shares of Clear Channel Outdoor Holdings (CCO) opened at 5.07 on Friday. The company’s market cap is $1.83 billion. The company has a 50 day moving average of $4.50 and a 200 day moving average of $4.95. Clear Channel Outdoor Holdings has a 52 week low of $3.35 and a 52 week high of $7.31.

Clear Channel Outdoor Holdings (NYSE:CCO) last issued its earnings results on Thursday, May 4th. The business services provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. The company had revenue of $544.73 million for the quarter, compared to analysts’ expectations of $559.30 million. Clear Channel Outdoor Holdings had a negative net margin of 1.04% and a negative return on equity of 14.75%. On average, analysts expect that Clear Channel Outdoor Holdings will post ($0.07) EPS for the current year.

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A number of institutional investors have recently modified their holdings of the company. Zazove Associates LLC raised its stake in shares of Clear Channel Outdoor Holdings by 259.5% in the second quarter. Zazove Associates LLC now owns 169,442 shares of the business services provider’s stock worth $822,000 after buying an additional 122,313 shares during the period. AEGON USA Investment Management LLC raised its stake in shares of Clear Channel Outdoor Holdings by 96.9% in the second quarter. AEGON USA Investment Management LLC now owns 468,819 shares of the business services provider’s stock worth $2,274,000 after buying an additional 230,683 shares during the period. Blue Sky Asset Management LLC purchased a new stake in shares of Clear Channel Outdoor Holdings during the first quarter worth about $1,453,000. Bank of America Corp DE raised its stake in shares of Clear Channel Outdoor Holdings by 819.0% in the first quarter. Bank of America Corp DE now owns 57,685 shares of the business services provider’s stock worth $349,000 after buying an additional 51,408 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Clear Channel Outdoor Holdings by 11.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 85,037 shares of the business services provider’s stock worth $515,000 after buying an additional 8,721 shares during the period. Institutional investors own 9.16% of the company’s stock.

Clear Channel Outdoor Holdings Company Profile

Clear Channel Outdoor Holdings, Inc is an outdoor advertising company. The Company provides clients with advertising opportunities through billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. Its segments include Americas outdoor advertising (Americas) and International outdoor advertising (International).

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