Lamar Advertising (NASDAQ:LAMR) Sets New 52-Week High – Should You Buy?

Lamar Advertising Company (NASDAQ:LAMR) reached a new 52-week high on Tuesday . The stock traded as high as $136.54 and last traded at $135.6580, with a volume of 60702 shares trading hands. The stock had previously closed at $132.42.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a report on Monday, December 29th. Citigroup boosted their price target on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Morgan Stanley set a $140.00 price target on shares of Lamar Advertising in a research note on Tuesday, December 16th. Finally, JPMorgan Chase & Co. upped their price objective on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $133.00.

Lamar Advertising Stock Up 2.0%

The business has a 50-day moving average of $128.95 and a 200-day moving average of $125.66. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 31.70 and a beta of 1.23.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $1.55 dividend. The ex-dividend date was Monday, December 22nd. This represents a $6.20 annualized dividend and a dividend yield of 4.6%. Lamar Advertising’s dividend payout ratio is presently 145.54%.

Institutional Trading of Lamar Advertising

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in Lamar Advertising during the fourth quarter worth $104,705,000. Eurizon Capital SGR S.p.A. purchased a new stake in Lamar Advertising during the fourth quarter valued at about $129,000. Northwestern Mutual Wealth Management Co. grew its stake in Lamar Advertising by 11.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 11,917 shares of the real estate investment trust’s stock worth $1,508,000 after buying an additional 1,184 shares during the period. Intech Investment Management LLC grew its stake in shares of Lamar Advertising by 3,390.6% in the fourth quarter. Intech Investment Management LLC now owns 105,556 shares of the real estate investment trust’s stock valued at $13,361,000 after buying an additional 102,532 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its position in Lamar Advertising by 94.1% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,811 shares of the real estate investment trust’s stock valued at $482,000 after buying an additional 1,848 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

About Lamar Advertising

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.