Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $128.00

Lamar Advertising (NASDAQ:LAMR) had its target price boosted by Citigroup from $121.76 to $128.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price suggests a potential upside of 3.52% from the company’s previous close.

LAMR has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $123.65 on Tuesday. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 35.03 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $124.47 and its 200 day moving average price is $127.64. Lamar Advertising has a 1 year low of $107.22 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to analysts’ expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, equities research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Institutional Trading of Lamar Advertising

Several institutional investors have recently bought and sold shares of LAMR. Creative Planning grew its stake in Lamar Advertising by 1.1% in the 3rd quarter. Creative Planning now owns 12,011 shares of the real estate investment trust’s stock valued at $1,605,000 after acquiring an additional 131 shares during the period. Blue Trust Inc. grew its position in shares of Lamar Advertising by 444.1% in the third 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 period. Allspring Global Investments Holdings LLC increased its stake in shares of Lamar Advertising by 84.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,970 shares of the real estate investment trust’s stock worth $664,000 after purchasing an additional 2,274 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Lamar Advertising by 0.7% during the 3rd quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock worth $1,576,000 after purchasing an additional 82 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after buying an additional 284,523 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

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.