StockNews.com Downgrades Lamar Advertising (NASDAQ:LAMR) to Hold

Lamar Advertising (NASDAQ:LAMR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

LAMR has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 price target for the company. TD Cowen upped 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. Finally, Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Stock Performance

Shares of LAMR opened at $131.50 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a market cap of $13.44 billion, a P/E ratio of 27.00 and a beta of 1.52. The business’s 50 day moving average price is $123.39 and its 200-day moving average price is $119.24. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $137.40.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. During the same period last year, the firm posted $1.90 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Institutional Trading of Lamar Advertising

A number of hedge funds have recently bought and sold shares of LAMR. Sanctuary Advisors LLC bought a new stake in shares of Lamar Advertising during the 2nd quarter valued at about $1,781,000. Quarry LP boosted its holdings in shares of Lamar Advertising by 178.8% in the second quarter. Quarry LP now owns 1,207 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 774 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Lamar Advertising by 9.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,999 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 269 shares during the period. NewEdge Advisors LLC increased its holdings in Lamar Advertising by 8.2% during the second quarter. NewEdge Advisors LLC now owns 36,218 shares of the real estate investment trust’s stock valued at $4,329,000 after buying an additional 2,753 shares during the last quarter. Finally, Creative Planning raised its position in Lamar Advertising by 13.5% in the second quarter. Creative Planning now owns 11,880 shares of the real estate investment trust’s stock worth $1,420,000 after acquiring an additional 1,412 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Company Profile

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.