Wells Fargo & Company Lowers Boston Omaha (NYSE:BOC) Price Target to $17.00

Boston Omaha (NYSE:BOCGet Free Report) had its target price lowered by investment analysts at Wells Fargo & Company from $23.00 to $17.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 26.02% from the stock’s current price.

Separately, TD Cowen reduced their target price on shares of Boston Omaha from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

Read Our Latest Stock Analysis on Boston Omaha

Boston Omaha Trading Down 0.7 %

NYSE BOC opened at $13.49 on Monday. The stock has a market capitalization of $422.98 million, a P/E ratio of -64.24 and a beta of 0.77. Boston Omaha has a 12 month low of $13.33 and a 12 month high of $21.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.92 and a quick ratio of 2.92. The firm’s 50-day moving average is $15.46 and its two-hundred day moving average is $15.46.

Boston Omaha (NYSE:BOCGet Free Report) last issued its quarterly earnings results on Friday, May 17th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The business had revenue of $25.55 million for the quarter, compared to analyst estimates of $25.50 million. Boston Omaha had a negative return on equity of 1.08% and a negative net margin of 6.56%.

Hedge Funds Weigh In On Boston Omaha

Several hedge funds have recently added to or reduced their stakes in BOC. Bank of New York Mellon Corp increased its stake in Boston Omaha by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 76,439 shares of the company’s stock valued at $1,253,000 after purchasing an additional 1,802 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Boston Omaha by 18.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,359 shares of the company’s stock valued at $121,000 after purchasing an additional 1,151 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Boston Omaha during the third quarter worth approximately $170,000. Jump Financial LLC purchased a new position in shares of Boston Omaha during the third quarter worth approximately $216,000. Finally, Swiss National Bank grew its position in shares of Boston Omaha by 2.7% during the third quarter. Swiss National Bank now owns 53,263 shares of the company’s stock worth $873,000 after acquiring an additional 1,400 shares during the last quarter. 60.36% of the stock is currently owned by hedge funds and other institutional investors.

Boston Omaha Company Profile

(Get Free Report)

Boston Omaha Corporation, together with its subsidiaries, engages in the outdoor billboard advertising business in the southeast United States. It is also involved in the surety insurance and related brokerage, broadband, and asset management businesses. The company was formerly known as REO Plus, Inc and changed its name to Boston Omaha Corporation in March 2015.

Further Reading

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