Live Nation Entertainment (NYSE:LYV) Price Target Raised to $170.00

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by Morgan Stanley from $150.00 to $170.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on the stock. Evercore ISI raised their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Benchmark boosted their price target on Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Bank of America increased their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Macquarie boosted their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Oppenheimer raised their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $151.47.

Live Nation Entertainment Stock Down 0.9 %

NYSE:LYV opened at $152.21 on Tuesday. Live Nation Entertainment has a 1 year low of $86.81 and a 1 year high of $155.10. The stock has a 50-day moving average price of $138.96 and a two-hundred day moving average price of $121.87. The stock has a market cap of $35.37 billion, a price-to-earnings ratio of 161.93, a PEG ratio of 1.79 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. As a group, equities analysts expect that Live Nation Entertainment will post 0.99 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Independent Franchise Partners LLP grew its holdings in Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $259,000,000. Norges Bank bought a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $255,955,000. ValueAct Holdings L.P. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth approximately $111,094,000. Finally, PointState Capital LP bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $102,762,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.