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

Key Points

• OUTFRONT Media was upgraded by Wall Street Zen from “buy” to “strong-buy”, adding to an already bullish analyst backdrop. Six analysts now rate the stock a Buy, with an average target price of $30.71.
• The company’s latest earnings beat expectations, with EPS of $0.34 versus the $0.28 consensus, and revenue rose 10% year over year. Analysts currently expect $2.12 EPS for the full year.
• Shares recently traded near $33.23, close to the stock’s 52-week high of $34.96, while institutional investors such as Vanguard and Gabelli Funds increased their holdings.

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

Other research analysts have also recently issued research reports about the company. TD Cowen reiterated a "buy" rating and set a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Morgan Stanley set a $37.00 target price on shares of OUTFRONT Media in a research report on Friday, May 8th. Finally, Barrington Research set a $38.00 price target on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.71.

OUTFRONT Media Stock Performance

Shares of OUT opened at $33.23 on Friday. The firm has a 50-day moving average of $32.23 and a 200-day moving average of $28.80. OUTFRONT Media has a one year low of $16.64 and a one year high of $34.96. The company has a market cap of $5.85 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The business had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. During the same period in the previous year, the firm earned $0.14 EPS. The firm's revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that OUTFRONT Media will post 2.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Richard H. Sauer sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the sale, the executive vice president directly owned 56,947 shares in the company, valued at approximately $1,826,859.76. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Michael Norton purchased 4,130 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the acquisition, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 20,000 shares of company stock valued at $629,600 in the last three months. 0.47% of the stock is owned by insiders.

Institutional Trading of OUTFRONT Media

Hedge funds have recently added to or reduced their stakes in the stock. Burney Co. bought a new position in shares of OUTFRONT Media in the 4th quarter valued at $735,000. BTC Capital Management Inc. bought a new stake in OUTFRONT Media during the 4th quarter worth $3,625,000. Pensionfund PDN acquired a new position in OUTFRONT Media in the 4th quarter worth about $1,027,000. Vanguard Group Inc. increased its holdings in OUTFRONT Media by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider's stock worth $545,983,000 after purchasing an additional 1,131,954 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in OUTFRONT Media by 30.3% in the fourth quarter. Gabelli Funds LLC now owns 333,440 shares of the financial services provider's stock valued at $8,036,000 after purchasing an additional 77,545 shares during the last quarter.

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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