Shares of Lamar Advertising Co (NASDAQ:LAMR) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $76.80.
A number of research firms have recently commented on LAMR. MKM Partners upped their target price on Lamar Advertising to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Zacks Investment Research cut Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. Imperial Capital began coverage on Lamar Advertising in a research note on Thursday, September 13th. They set an “outperform” rating and a $93.00 target price on the stock. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Finally, Citigroup upped their target price on Lamar Advertising from $68.00 to $69.00 and gave the company a “sell” rating in a research note on Wednesday, August 15th.
A number of large investors have recently made changes to their positions in the stock. Unigestion Holding SA grew its stake in Lamar Advertising by 132.4% in the third quarter. Unigestion Holding SA now owns 33,700 shares of the real estate investment trust’s stock worth $2,622,000 after purchasing an additional 19,200 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Lamar Advertising by 6.1% in the third quarter. Janney Montgomery Scott LLC now owns 45,571 shares of the real estate investment trust’s stock worth $3,545,000 after purchasing an additional 2,630 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in Lamar Advertising by 29.0% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,934 shares of the real estate investment trust’s stock worth $1,862,000 after purchasing an additional 5,380 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Lamar Advertising in the third quarter worth approximately $1,844,000. Finally, American Century Companies Inc. bought a new position in Lamar Advertising in the third quarter worth approximately $786,000. 83.49% of the stock is currently owned by institutional investors.
LAMR stock traded up $2.65 during midday trading on Thursday, reaching $78.08. 12,260 shares of the company traded hands, compared to its average volume of 463,766. Lamar Advertising has a 52-week low of $61.36 and a 52-week high of $79.40. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $7.40 billion, a PE ratio of 15.47 and a beta of 1.13.
Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Wednesday, August 8th. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The firm had revenue of $419.80 million for the quarter, compared to analysts’ expectations of $416.75 million. Lamar Advertising had a return on equity of 27.75% and a net margin of 18.93%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Equities research analysts expect that Lamar Advertising will post 5.09 EPS for the current year.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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