Live Nation Entertainment (NYSE:LYV) Stock Price Up 4.4% After Analyst Upgrade

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) shot up 4.4% during trading on Monday after Bank of America raised their price target on the stock from $149.00 to $175.00. Bank of America currently has a buy rating on the stock. Live Nation Entertainment traded as high as $154.90 and last traded at $155.91. 656,805 shares traded hands during trading, a decline of 66% from the average session volume of 1,953,454 shares. The stock had previously closed at $149.40.

Several other equities analysts also recently commented on the stock. Evercore ISI boosted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. Roth Mkm boosted their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup boosted their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, TD Cowen boosted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment during the fourth quarter worth about $29,000. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the third quarter worth about $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter worth about $38,000. Murphy & Mullick Capital Management Corp acquired a new position in Live Nation Entertainment during the fourth quarter worth about $40,000. Finally, Reston Wealth Management LLC acquired a new position in Live Nation Entertainment during the third quarter worth about $41,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Up 4.8 %

The firm’s 50-day simple moving average is $139.23 and its two-hundred day simple moving average is $122.75. The company has a market capitalization of $36.38 billion, a price-to-earnings ratio of 57.46, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.