CBS (NYSE:CBS) had its price target raised by Loop Capital to $65.00 in a research note issued to investors on Monday, The Fly reports. The firm presently has a “buy” rating on the media conglomerate’s stock. Loop Capital’s price target suggests a potential upside of 26.61% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Barrington Research restated a “buy” rating and issued a $72.00 target price on shares of CBS in a report on Tuesday, February 19th. Imperial Capital restated an “outperform” rating and issued a $72.00 target price (down from $75.00) on shares of CBS in a report on Tuesday, February 19th. Benchmark decreased their target price on CBS from $90.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, February 13th. Atlantic Securities cut CBS from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Monday, February 11th. Finally, BMO Capital Markets restated a “buy” rating and issued a $63.00 target price on shares of CBS in a report on Tuesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.63.
Shares of CBS stock opened at $51.34 on Monday. CBS has a 1 year low of $41.38 and a 1 year high of $59.59. The firm has a market cap of $19.32 billion, a PE ratio of 9.89, a PEG ratio of 0.70 and a beta of 1.24. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.04 and a current ratio of 1.48.
In other news, EVP Jonathan Anschell sold 20,730 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $50.11, for a total value of $1,038,780.30. Following the completion of the sale, the executive vice president now owns 23,358 shares of the company’s stock, valued at $1,170,469.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary L. Countryman sold 4,584 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total value of $235,388.40. Following the completion of the sale, the director now directly owns 63,454 shares of the company’s stock, valued at approximately $3,258,362.90. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Horan Capital Advisors LLC. acquired a new stake in CBS during the first quarter valued at $26,000. Lindbrook Capital LLC acquired a new stake in CBS during the fourth quarter valued at $28,000. Princeton Global Asset Management LLC acquired a new stake in CBS during the fourth quarter valued at $28,000. Trust Co. of Vermont boosted its position in CBS by 64.6% during the fourth quarter. Trust Co. of Vermont now owns 1,098 shares of the media conglomerate’s stock valued at $48,000 after purchasing an additional 431 shares during the last quarter. Finally, Bruderman Asset Management LLC boosted its position in CBS by 787.9% during the fourth quarter. Bruderman Asset Management LLC now owns 1,394 shares of the media conglomerate’s stock valued at $61,000 after purchasing an additional 1,237 shares during the last quarter. 75.73% of the stock is owned by institutional investors and hedge funds.
CBS Corporation operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.
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