OUTFRONT Media (NYSE:OUT) Stock Rating Upgraded by TD Cowen

OUTFRONT Media (NYSE:OUT) was upgraded by TD Cowen from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a $24.00 price objective on the financial services provider’s stock. TD Cowen’s price target indicates a potential upside of 12.03% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on OUT. Morgan Stanley raised their target price on OUTFRONT Media from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday. Barrington Research reiterated an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a report on Friday, November 7th. Wall Street Zen upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, OUTFRONT Media presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

OUTFRONT Media Stock Performance

NYSE:OUT opened at $21.42 on Tuesday. The company’s 50-day moving average is $18.32 and its two-hundred day moving average is $17.46. OUTFRONT Media has a 1-year low of $12.95 and a 1-year high of $21.88. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.61. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.23 and a beta of 1.82.

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

Insider Activity at OUTFRONT Media

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the transaction, the executive vice president owned 4,170 shares of the company’s stock, valued at approximately $80,814.60. This trade represents a 49.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the completion of the transaction, the insider owned 8,913,813 shares of the company’s stock, valued at $160,983,462.78. This trade represents a 48.52% 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 Trading of OUTFRONT Media

A number of large investors have recently modified their holdings of OUT. Gamco Investors INC. ET AL raised its stake in shares of OUTFRONT Media by 4.9% in the third quarter. Gamco Investors INC. ET AL now owns 52,082 shares of the financial services provider’s stock valued at $954,000 after acquiring an additional 2,430 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in OUTFRONT Media by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,040,321 shares of the financial services provider’s stock worth $37,378,000 after purchasing an additional 41,036 shares during the period. First Eagle Investment Management LLC increased its holdings in OUTFRONT Media by 0.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 806,535 shares of the financial services provider’s stock worth $14,776,000 after purchasing an additional 2,500 shares during the period. Bright Futures Wealth Management LLC. acquired a new stake in OUTFRONT Media in the 3rd quarter valued at about $231,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of OUTFRONT Media by 7.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 108,817 shares of the financial services provider’s stock valued at $1,994,000 after buying an additional 7,480 shares during the period.

About OUTFRONT Media

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.