Clear Channel Outdoor (NYSE:CCO) Shares Up 4.9%

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO - Get Free Report) shares traded up 4.9% during mid-day trading on Thursday . The stock traded as high as $1.70 and last traded at $1.70. 1,129,032 shares were traded during mid-day trading, a decline of 52% from the average session volume of 2,340,973 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com raised Clear Channel Outdoor from a "sell" rating to a "hold" rating in a research note on Friday, February 16th. Barrington Research reissued an "outperform" rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Tuesday, February 27th. Wells Fargo & Company raised Clear Channel Outdoor from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $1.50 to $2.75 in a research note on Wednesday, December 20th. Finally, Morgan Stanley increased their price objective on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $2.16.

Clear Channel Outdoor Stock Up 3.4 %

The company has a market cap of $810.23 million, a P/E ratio of -2.58 and a beta of 2.88. The business has a fifty day moving average of $1.71 and a 200 day moving average of $1.55.

Clear Channel Outdoor (NYSE:CCO - Get Free Report) last announced its earnings results on Monday, February 26th. The business services provider reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The business had revenue of $632.11 million for the quarter, compared to the consensus estimate of $611.62 million. During the same quarter in the prior year, the company earned $0.24 EPS. On average, sell-side analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Clear Channel Outdoor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Carronade Capital Management LP bought a new position in Clear Channel Outdoor in the third quarter worth $1,580,000. CenterBook Partners LP raised its holdings in Clear Channel Outdoor by 183.3% in the third quarter. CenterBook Partners LP now owns 2,777,537 shares of the business services provider's stock worth $4,389,000 after purchasing an additional 1,797,154 shares in the last quarter. Shenkman Capital Management Inc. raised its holdings in Clear Channel Outdoor by 70.9% in the third quarter. Shenkman Capital Management Inc. now owns 1,704,589 shares of the business services provider's stock worth $2,693,000 after purchasing an additional 707,389 shares in the last quarter. State of Wyoming raised its holdings in Clear Channel Outdoor by 43.8% in the second quarter. State of Wyoming now owns 446,228 shares of the business services provider's stock worth $611,000 after purchasing an additional 135,971 shares in the last quarter. Finally, Requisite Capital Management LLC raised its holdings in Clear Channel Outdoor by 100.0% in the fourth quarter. Requisite Capital Management LLC now owns 400,000 shares of the business services provider's stock worth $728,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors own 85.52% of the company's stock.

About Clear Channel Outdoor

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.