Barrington analyst James Goss reiterated a Buy rating on Clear Channel Outdoor (CCO) today and set a price target of $6.50. The company’s shares opened today at $5.15.
Goss commented:
“We reiterate our OUTPERFORM investment rating and $6.50 price target for CCO: We had expected that a resolution of structural issues could enable the investment opportunity within this fine set of assets to be unlocked. Removal of structural uncertainties involving iHeartMedia is a huge positive.”
According to TipRanks.com, Goss is a 5-star analyst with an average return of 15.4% and a 67.1% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Nexstar Media Group Inc, and Sirius XM Holdings Inc.
Clear Channel Outdoor has an analyst consensus of Moderate Buy, with a price target consensus of $6.50.
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Based on Clear Channel Outdoor’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $164 million. In comparison, last year the company had a GAAP net loss of $127 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CCO in relation to earlier this year. Earlier this month, Dale Tremblay, a Director at CCO bought 36,493 shares for a total of $129,746.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Clear Channel Outdoor Holdings, Inc. engages in the provision of advertising opportunities through billboards, street furniture displays, transit displays, and other out-of-home advertising displays. It operates through the Americas and International Outdoor segments. The Americas segment primarily includes operations in the United States.
