Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $161.00

Lamar Advertising (NASDAQ:LAMR) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $160.00 to $161.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 3.21% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and upped their target price for the company from $145.00 to $160.00 in a research note on Friday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Wells Fargo & Company boosted their price objective on shares of Lamar Advertising from $156.00 to $158.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Morgan Stanley set a $170.00 price objective on shares of Lamar Advertising in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.50.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $155.99 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 0.59 and a quick ratio of 0.59. Lamar Advertising has a 1 year low of $120.54 and a 1 year high of $166.33. The company has a market cap of $15.84 billion, a P/E ratio of 27.51 and a beta of 1.23. The stock’s fifty day moving average price is $149.76 and its 200-day moving average price is $145.35.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $1.58 EPS for the quarter, hitting the consensus estimate of $1.58. Lamar Advertising had a return on equity of 57.12% and a net margin of 24.36%. The company had revenue of $616.75 million during the quarter, compared to the consensus estimate of $606.61 million. Sell-side analysts expect that Lamar Advertising will post 8.40 earnings per share for the current year.

Insider Buying and Selling

In other Lamar Advertising news, Director Thomas Reifenheiser sold 8,099 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $149.03, for a total value of $1,206,993.97. Following the transaction, the director owned 36,387 shares of the company’s stock, valued at approximately $5,422,754.61. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.24% of the company’s stock.

Institutional Investors Weigh In On Lamar Advertising

Large investors have recently made changes to their positions in the company. Trillium Asset Management LLC boosted its holdings in shares of Lamar Advertising by 0.5% in the third quarter. Trillium Asset Management LLC now owns 54,114 shares of the real estate investment trust’s stock worth $7,798,000 after buying an additional 271 shares during the last quarter. Ibex Wealth Advisors increased its holdings in Lamar Advertising by 3.7% during the third quarter. Ibex Wealth Advisors now owns 64,433 shares of the real estate investment trust’s stock valued at $9,285,000 after buying an additional 2,284 shares during the last quarter. Allworth Financial LP increased its holdings in Lamar Advertising by 24.6% during the third quarter. Allworth Financial LP now owns 2,602 shares of the real estate investment trust’s stock valued at $406,000 after buying an additional 513 shares during the last quarter. Russell Investments Group Ltd. raised its position in Lamar Advertising by 116.3% in the third quarter. Russell Investments Group Ltd. now owns 138,653 shares of the real estate investment trust’s stock worth $19,983,000 after acquiring an additional 74,539 shares during the period. Finally, IAG Wealth Partners LLC bought a new position in Lamar Advertising in the third quarter worth approximately $58,000. 93.78% of the stock is currently owned by institutional investors.

About Lamar Advertising

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations.

The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.

Lamar is led by Chief Executive Officer Sean Reilly.