OUTFRONT Media (NYSE:OUT) Given New $20.00 Price Target at Morgan Stanley

OUTFRONT Media (NYSE:OUT) had its price target upped by Morgan Stanley from $19.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 1.82% from the company’s current price.

Several other research firms have also recently issued reports on OUT. Barrington Research reiterated an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a report on Friday. Wall Street Zen raised shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.20.

OUTFRONT Media Price Performance

Shares of OUT traded up $0.21 during mid-day trading on Monday, reaching $20.37. 1,671,156 shares of the company’s stock were exchanged, compared to its average volume of 1,570,557. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.18 and a beta of 1.82. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. OUTFRONT Media has a 52-week low of $12.95 and a 52-week high of $20.48. The company has a 50-day simple moving average of $18.19 and a two-hundred day simple moving average of $17.35.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.The business had revenue of $467.50 million during the quarter, compared to analyst estimates of $458.32 million. During the same period in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts predict that OUTFRONT Media will post 1.59 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total value of $151,704,000.00. Following the sale, the insider directly owned 8,913,813 shares of the company’s stock, valued at approximately $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction of $79,961.88. Following the completion of the transaction, the executive vice president owned 4,170 shares in the company, valued at approximately $80,814.60. The trade was a 49.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On OUTFRONT Media

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OUT. Principal Financial Group Inc. increased its position in shares of OUTFRONT Media by 2.5% during the first quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider’s stock worth $11,093,000 after purchasing an additional 16,470 shares in the last quarter. New Age Alpha Advisors LLC grew its holdings in shares of OUTFRONT Media by 162.1% during the 1st quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider’s stock worth $1,996,000 after purchasing an additional 76,486 shares during the period. Nordea Investment Management AB acquired a new stake in shares of OUTFRONT Media during the second quarter valued at about $5,414,000. Moody National Bank Trust Division acquired a new stake in shares of OUTFRONT Media in the second quarter valued at $295,000. Finally, Assetmark Inc. lifted its position in shares of OUTFRONT Media by 46,052.7% during the 1st quarter. Assetmark Inc. now owns 41,999 shares of the financial services provider’s stock worth $678,000 after purchasing an additional 41,908 shares during the last quarter.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.