Zurcher Kantonalbank Zurich Cantonalbank Has $2.08 Million Stake in Lamar Advertising (NASDAQ:LAMR)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Lamar Advertising (NASDAQ:LAMR) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,556 shares of the real estate investment trust’s stock after acquiring an additional 740 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lamar Advertising were worth $2,078,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Lamar Advertising in the 3rd quarter valued at $25,000. Whittier Trust Co. boosted its holdings 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 acquiring an additional 130 shares in the last quarter. Concord Wealth Partners bought a new stake in Lamar Advertising during the 3rd quarter worth $26,000. Finally, MFA Wealth Advisors LLC acquired a new position in Lamar Advertising in the 2nd quarter worth about $30,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on LAMR. Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company reduced their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Down 1.1 %

Shares of NASDAQ LAMR opened at $132.12 on Wednesday. Lamar Advertising has a 52-week low of $100.15 and a 52-week high of $139.88. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The company’s 50 day moving average price is $132.52 and its 200-day moving average price is $124.48. The company has a market capitalization of $13.52 billion, a P/E ratio of 26.42 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same period last year, the company posted $2.04 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising 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.