Wells Fargo & Company Issues Positive Forecast for Clear Channel Outdoor (NYSE:CCO) Stock Price

Clear Channel Outdoor (NYSE:CCO) had its price objective upped by Wells Fargo & Company from $1.50 to $2.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 2.30% from the stock’s current price.

Several other brokerages have also recently weighed in on CCO. Zacks Research upgraded Clear Channel Outdoor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Morgan Stanley set a $2.00 target price on shares of Clear Channel Outdoor in a research report on Monday. TD Cowen lifted their target price on Clear Channel Outdoor from $2.50 to $2.80 and gave the stock a “buy” rating in a report on Monday, October 20th. Cowen reiterated a “buy” rating on shares of Clear Channel Outdoor in a report on Monday, October 20th. Finally, Barrington Research reiterated a “market perform” rating on shares of Clear Channel Outdoor in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.32.

Clear Channel Outdoor Trading Down 0.3%

CCO stock traded down $0.01 during trading on Wednesday, hitting $1.96. 637,721 shares of the stock traded hands, compared to its average volume of 2,749,577. Clear Channel Outdoor has a one year low of $0.81 and a one year high of $2.03. The stock has a market cap of $971.66 million, a price-to-earnings ratio of 48.89 and a beta of 2.63. The company has a 50 day simple moving average of $1.57 and a 200 day simple moving average of $1.30.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Thursday, November 6th. The business services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $405.64 million for the quarter, compared to the consensus estimate of $402.03 million. Clear Channel Outdoor has set its Q4 2025 guidance at EPS.

Insider Activity

In related news, major shareholder Ares Management Llc sold 13,000,000 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $1.13, for a total value of $14,690,000.00. Following the transaction, the insider owned 41,197,491 shares in the company, valued at $46,553,164.83. The trade was a 23.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Clear Channel Outdoor

A number of large investors have recently added to or reduced their stakes in CCO. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Clear Channel Outdoor during the 2nd quarter valued at about $3,510,000. Readystate Asset Management LP lifted its position in Clear Channel Outdoor by 37.9% during the first quarter. Readystate Asset Management LP now owns 6,267,547 shares of the business services provider’s stock valued at $6,957,000 after purchasing an additional 1,723,417 shares during the period. Jane Street Group LLC boosted its holdings in Clear Channel Outdoor by 252.5% during the second quarter. Jane Street Group LLC now owns 2,347,451 shares of the business services provider’s stock worth $2,747,000 after buying an additional 1,681,454 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Clear Channel Outdoor in the 2nd quarter valued at $1,861,000. Finally, Nuveen LLC purchased a new stake in shares of Clear Channel Outdoor during the first quarter worth approximately $1,612,000. 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.