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 research report issued to clients and investors on Thursday.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective for the company. TD Cowen lifted their price target on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $125.00.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $131.92 on Thursday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a 50 day moving average price of $124.68 and a 200 day moving average price of $119.78. The stock has a market capitalization of $13.49 billion, a PE ratio of 27.09 and a beta of 1.52. Lamar Advertising has a 52 week low of $79.17 and a 52 week high of $137.40.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data 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). The company had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. Analysts predict that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lamar Advertising

A number of institutional investors have recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. acquired a new stake in Lamar Advertising during the 1st quarter worth approximately $25,000. Whittier Trust Co. boosted its position in shares of Lamar Advertising by 144.4% in the second 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 during the period. Fidelis Capital Partners LLC bought a new stake in shares of Lamar Advertising in the first quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Lamar Advertising in the second quarter valued at about $30,000. Finally, Quarry LP increased its position in Lamar Advertising by 70.4% during the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 133 shares during the period. Institutional investors own 93.78% of the company’s stock.

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.