OUTFRONT Media (NYSE:OUT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded OUTFRONT Media from “buy” to “strong-buy,” adding to a generally positive analyst backdrop. Overall, six analysts rate the stock a Buy and one rates it Hold, with a consensus “Moderate Buy” and average price target of $30.71.
• The company recently reported strong quarterly results, posting EPS of $0.34 versus the $0.28 estimate and revenue up 10% year over year to $429.6 million. Analysts now expect OUTFRONT Media to earn $2.11 per share for the full year.
• Several major institutions increased their stakes in the company, including Vanguard, Cohen & Steers, State Street, Goldman Sachs, and Wellington Management. The stock was trading around $32.22, near its 52-week high of $34.96.

OUTFRONT Media (NYSE:OUT - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. TD Cowen reissued a "buy" rating and set a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Barrington Research set a $38.00 target price on OUTFRONT Media in a research report on Tuesday, May 12th. Wells Fargo & Company lifted their target price on OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. Zacks Research downgraded OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Finally, Morgan Stanley set a $37.00 target price on OUTFRONT Media in a research report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

OUTFRONT Media Trading Down 0.8%

Shares of NYSE:OUT opened at $32.22 on Friday. The company has a market cap of $5.67 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.54 and a beta of 1.50. The stock's 50-day moving average is $29.99 and its 200-day moving average is $26.59. OUTFRONT Media has a 52-week low of $15.45 and a 52-week high of $34.96. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.82 and a current ratio of 0.82.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The company had revenue of $429.60 million for the quarter, compared to the consensus estimate of $431.44 million. During the same period last year, the business posted $0.14 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that OUTFRONT Media will post 2.11 earnings per share for the current year.

Insider Buying and Selling

In other OUTFRONT Media news, EVP Matthew Siegel sold 50,000 shares of OUTFRONT Media stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the sale, the executive vice president directly owned 289,925 shares of the company's stock, valued at approximately $7,477,165.75. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel A. Diaz sold 11,271 shares of OUTFRONT Media stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $26.93, for a total value of $303,528.03. Following the sale, the director directly owned 36,244 shares in the company, valued at $976,050.92. The trade was a 23.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of OUTFRONT Media by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider's stock valued at $545,983,000 after acquiring an additional 1,131,954 shares during the last quarter. Cohen & Steers Inc. raised its position in OUTFRONT Media by 2.2% in the 4th quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider's stock worth $537,779,000 after purchasing an additional 486,192 shares during the last quarter. State Street Corp raised its position in OUTFRONT Media by 2.1% in the 4th quarter. State Street Corp now owns 5,483,013 shares of the financial services provider's stock worth $132,141,000 after purchasing an additional 111,084 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in OUTFRONT Media by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock worth $80,393,000 after acquiring an additional 448,993 shares during the period. Finally, Wellington Management Group LLP grew its holdings in OUTFRONT Media by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 4,309,133 shares of the financial services provider's stock worth $103,850,000 after acquiring an additional 335,265 shares during the period.

OUTFRONT Media Company Profile

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.

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