Barrington Maintains Their Buy Rating on Outfront Media (OUT)

By Carrie Williams

Barrington analyst James Goss maintained a Buy rating on Outfront Media (OUTResearch Report) today and set a price target of $29. The company’s shares opened today at $24.87, close to its 52-week high of $25.93.

Goss commented:

“We are raising our price target by $4 to $29. We continue to like this story as a well-positioned major competitor in an industry sector undergoing a transformation that should increase its overall importance and attractiveness. Aside from the overall impact of digital, OUTFRONT has also won important transit contracts in San Francisco. Importantly, OUT provides an annual dividend rate of $1.44, creating a current yield of 5.8%, providing excellent total return.”

According to TipRanks.com, Goss is a 5-star analyst with an average return of 13.3% and a 61.8% success rate. Goss covers the Services sector, focusing on stocks such as Nexstar Media Group Inc, iPic Entertainment Inc, and Sirius XM Holdings Inc.

Outfront Media has an analyst consensus of Moderate Buy, with a price target consensus of $27, representing an 8.6% upside. In a report issued on May 7, Oppenheimer also maintained a Buy rating on the stock with a $30 price target.

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The company has a one-year high of $25.93 and a one-year low of $16.81. Currently, Outfront Media has an average volume of 1.06M.

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OUTFRONT Media, Inc. engages in the business of providing leasing services of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. It operates through the following segments: U. S. Billboard and Transit; International; and Sports Marketing.