Lamar Advertising (NASDAQ:LAMR) Rating Increased to Hold at BidaskClub

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BidaskClub upgraded shares of Lamar Advertising (NASDAQ:LAMR) from a sell rating to a hold rating in a research note released on Friday, BidAskClub reports.

Several other research analysts have also recently issued reports on LAMR. Zacks Investment Research cut shares of Lamar Advertising from a buy rating to a hold rating in a report on Tuesday, April 23rd. ValuEngine cut shares of Lamar Advertising from a buy rating to a hold rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $78.50.

NASDAQ LAMR opened at $77.94 on Friday. The stock has a market capitalization of $7.94 billion, a PE ratio of 14.17 and a beta of 0.95. Lamar Advertising has a 52-week low of $64.51 and a 52-week high of $84.50. The business’s 50-day moving average price is $80.91. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.48.

In other news, CFO Keith A. Istre sold 16,294 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $80.28, for a total value of $1,308,082.32. Following the sale, the chief financial officer now directly owns 118,991 shares in the company, valued at $9,552,597.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas V. Reifenheiser sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total transaction of $324,200.00. Following the completion of the sale, the director now owns 38,708 shares in the company, valued at $3,137,283.40. The disclosure for this sale can be found here. Corporate insiders own 15.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Lamar Advertising by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,256,045 shares of the real estate investment trust’s stock worth $86,894,000 after purchasing an additional 104,898 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Lamar Advertising by 109.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 9,101 shares of the real estate investment trust’s stock worth $630,000 after acquiring an additional 4,751 shares during the period. Legal & General Group Plc grew its holdings in shares of Lamar Advertising by 4.9% in the fourth quarter. Legal & General Group Plc now owns 110,743 shares of the real estate investment trust’s stock worth $7,662,000 after acquiring an additional 5,130 shares during the period. First Allied Advisory Services Inc. bought a new stake in shares of Lamar Advertising in the fourth quarter worth $207,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Lamar Advertising by 60.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 58,273 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 22,049 shares during the period. Institutional investors and hedge funds own 81.08% of the company’s stock.

About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

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