JPMorgan Chase & Co. Reaffirms Overweight Rating for OUTFRONT Media (NYSE:OUT)

OUTFRONT Media (NYSE:OUT)‘s stock had its “overweight” rating reissued by JPMorgan Chase & Co. in a note issued to investors on Wednesday,Benzinga reports. They presently have a $38.00 price target on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 18.70% from the stock’s current price.

A number of other research firms also recently issued reports on OUT. Barrington Research set a $38.00 target price on shares of OUTFRONT Media in a report on Tuesday, May 12th. Morgan Stanley set a $37.00 price target on shares of OUTFRONT Media in a report on Friday, May 8th. Wall Street Zen upgraded OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, TD Cowen reiterated a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.57.

OUTFRONT Media Stock Down 2.0%

OUT opened at $32.01 on Wednesday. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 1.54 and a beta of 1.48. The business has a 50-day moving average of $32.24 and a two-hundred day moving average of $28.95. OUTFRONT Media has a 12 month low of $16.64 and a 12 month high of $34.96.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $429.60 million during the quarter, compared to the consensus estimate of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 EPS. On average, research analysts expect that OUTFRONT Media will post 2.12 earnings per share for the current year.

Insider Activity

In other news, EVP Richard H. Sauer sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the sale, the executive vice president owned 56,947 shares in the company, valued at approximately $1,826,859.76. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Michael Norton bought 4,130 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the acquisition, the executive vice president owned 4,130 shares in the company, valued at approximately $127,245.30. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 20,000 shares of company stock valued at $629,600 in the last ninety days. Company insiders own 0.45% of the company’s stock.

Institutional Trading of OUTFRONT Media

Several large investors have recently modified their holdings of OUT. Hennion & Walsh Asset Management Inc. boosted its holdings in OUTFRONT Media by 94.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,793 shares of the financial services provider’s stock valued at $1,009,000 after purchasing an additional 14,993 shares during the last quarter. GAMMA Investing LLC increased its holdings in OUTFRONT Media by 4.6% during the 2nd quarter. GAMMA Investing LLC now owns 10,048 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 440 shares during the last quarter. Pine Valley Investments Ltd Liability Co acquired a new position in shares of OUTFRONT Media in the 1st quarter valued at approximately $244,000. NewEdge Advisors LLC raised its position in shares of OUTFRONT Media by 23.7% in the 1st quarter. NewEdge Advisors LLC now owns 19,766 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 3,789 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of OUTFRONT Media during the 1st quarter valued at approximately $401,000.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.