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 Monday.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company dropped their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday. TD Cowen boosted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday. 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.com, the company presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $128.94 on Monday. The stock has a market cap of $13.19 billion, a PE ratio of 26.01 and a beta of 1.52. 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 firm has a 50-day moving average of $131.84 and a 200-day moving average of $123.08. Lamar Advertising has a 52-week low of $91.20 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.04 EPS. On average, sell-side analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares in the last quarter. Whittier Trust Co. grew 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 purchasing an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in Lamar Advertising in the 3rd quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new stake in shares of Lamar Advertising during the second quarter worth $30,000. Finally, Assetmark Inc. grew its stake in shares of Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

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.