Lamar Advertising (NASDAQ:LAMR) Sees Significant Drop in Short Interest

Lamar Advertising (NASDAQ:LAMR) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 2,220,000 shares, a decrease of 9.0% from the July 15th total of 2,440,000 shares. Based on an average trading volume of 404,500 shares, the short-interest ratio is presently 5.5 days.

Lamar Advertising Stock Up 0.2 %

NASDAQ LAMR traded up $0.19 during mid-day trading on Friday, reaching $119.20. The stock had a trading volume of 299,400 shares, compared to its average volume of 412,910. The company has a fifty day moving average price of $117.65 and a 200 day moving average price of $115.48. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $123.25. The stock has a market cap of $12.19 billion, a PE ratio of 24.48 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business had revenue of $565.25 million for the quarter, compared to the consensus estimate of $564.96 million. During the same period in the previous year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts expect that Lamar Advertising will post 7.69 earnings per share for the current year.

Institutional Trading of Lamar Advertising

A number of large investors have recently made changes to their positions in the stock. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Lamar Advertising in the first quarter worth $25,000. Whittier Trust Co. increased its position in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Lamar Advertising during the 1st quarter valued at about $27,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Lamar Advertising in the 4th quarter worth approximately $30,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising in the second quarter worth approximately $30,000. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LAMR has been the topic of a number of recent research reports. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research note on Thursday, July 11th. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, TD Cowen raised their price objective on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.25.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.