Lamar Advertising (NASDAQ:LAMR) Coverage Initiated at TD Cowen

Analysts at TD Cowen started coverage on shares of Lamar Advertising (NASDAQ:LAMR) in a report released on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $135.00 price target on the real estate investment trust’s stock. TD Cowen’s price objective points to a potential upside of 13.77% from the stock’s current price.

Several other research firms also recently commented on LAMR. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research note on Thursday, July 11th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Lamar Advertising has a consensus rating of “Hold” and a consensus target price of $119.00.

Lamar Advertising Trading Down 1.4 %

Shares of NASDAQ:LAMR opened at $118.66 on Tuesday. The business’s 50-day moving average is $118.00 and its 200 day moving average is $113.48. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $122.22. The firm has a market capitalization of $12.13 billion, a P/E ratio of 24.56 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.71). The company had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 EPS. On average, research analysts predict that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $120.05, for a total value of $2,040,850.00. Following the completion of the transaction, the director now directly owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.98% of the company’s stock.

Hedge Funds Weigh In On Lamar Advertising

A number of hedge funds have recently bought and sold shares of the business. Accurate Wealth Management LLC lifted its holdings in Lamar Advertising by 3.8% during the first quarter. Accurate Wealth Management LLC now owns 2,449 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 90 shares in the last quarter. State of Michigan Retirement System raised its stake in Lamar Advertising by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock valued at $2,236,000 after purchasing an additional 100 shares during the last quarter. SPC Financial Inc. lifted its holdings in Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 103 shares in the last quarter. Woodward Diversified Capital LLC lifted its holdings in Lamar Advertising by 2.6% in the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 113 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in Lamar Advertising by 1.5% during the 4th quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust’s stock worth $842,000 after purchasing an additional 116 shares during the last quarter. 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.