As published in their initiating research note from Wolfe Research on March 29, 2022, Outfront Media Inc. [OUT] has been an Outperform and the price target has been revised to $34. This represents a 47.82% premium over Thursday’s closing price. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late September. As of April 20, 2020, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for OUT. Earlier on March 20, 2020, Imperial Capital resumed its rating. Their recommendation was “an Outperform” for OUT stock.
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Analyzing OUT Stock Performance
On Thursday, Outfront Media Inc. [NYSE: OUT] plunged -4.47% to $17.74. The stock’s lowest price that day was $17.31, but it reached a high of $18.53 in the same session. During the last five days, there has been a drop of approximately -9.35%. Over the course of the year, Outfront Media Inc. shares have jumped approximately 7.00%. Shares of the company reached a 52-week high of $21.65 on 02/02/23 and a 52-week low of $16.17 on 01/03/23. A 50-day SMA is recorded $18.40, while a 200-day SMA reached $18.09. Nevertheless, trading volume fell to 3.45 million shares from 1.68 million shares the previous day.
Support And Resistance Levels for Outfront Media Inc. (OUT)
According to the 24-hour chart, there is a support level at 17.19, which, if violated, would cause prices to drop to 16.64. In the upper region, resistance lies at 18.41. The next price resistance is at 19.08. RSI (Relative Strength Index) is 34.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.25, which suggests the price will decrease in the coming days. Percent R is at 88.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Outfront Media Inc. subject to short interest?
Stocks of Outfront Media Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -1.44 million shares to 9.91 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 11.35 million shares. A decline of -14.53% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.51 of the overall float, the days-to-cover ratio (short ratio) decline to 7.51.
Which companies own the most shares of Outfront Media Inc. (OUT)?
According to The Vanguard Group, Inc. filings, the company currently owns 25,442,749 shares, which is about 15.50% of the total OUT shares outstanding. The investor’s shares have plunged by -77,950 from its previous 13-F filing of 25520699.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $437,337,942. SSgA Funds Management, Inc. acquire a 7.87% interest valued at $108.83 million while Macquarie Investment Management B sold a -74,858 stake. A total of 77,797 shares of Outfront Media Inc. were sold by JPMorgan Investment Management, I during the quarter, and 1,305,331 were bought by Citadel Advisors LLC. In its current portfolio, BlackRock Advisors LLC holds 4,206,583 shares valued at $83.71 million.
In terms of Outfront Media Inc. share price expectations, FactSet research, analysts set an average price target of $26.00 in the next 12 months, up nearly 29.24% from the previous closing price of $18.57. Analysts anticipate Outfront Media Inc. stock to reach $34.00 by 2023, with the lowest price target being $20.00. In spite of this, 5 analysts ranked Outfront Media Inc. stock as a Buy at the end of 2023. On February 19, 2020, Imperial Capital assigned a price target of “an Outperform” to the stock and reiterated coverage with a $35.