Lamar Advertising (NASDAQ:LAMR) Stock Rating Lowered by Cfra

Key Points

• Cfra downgraded Lamar Advertising to “sell” from “hold” and set a $145 price target, implying about 10.8% downside from the stock’s then-current price.
• Analyst opinion remains mixed: MarketBeat reported a consensus “hold” rating and a $159.14 average target, with two buy, three hold, and one sell rating.
• Lamar shares closed Wednesday at $162.62, down 0.5% on the day.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) was downgraded by investment analysts at Cfra from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday, FinViz reports. They presently have a $145.00 target price on the real estate investment trust's stock. Cfra's price objective points to a potential downside of 10.84% from the company's current price.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $160.00 to $161.00 and gave the stock a "neutral" rating in a research report on Friday, November 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Lamar Advertising in a report on Wednesday, August 19th. Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a research note on Friday, August 7th. Finally, Wells Fargo & Company raised their target price on shares of Lamar Advertising from $156.00 to $158.00 and gave the company an "equal weight" rating in a research note on Friday, November 6th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $159.14.

Lamar Advertising Stock Down 0.5%

LAMR traded down $0.78 on Wednesday, hitting $162.62. 724,867 shares of the company were exchanged, compared to its average volume of 597,210. Lamar Advertising has a 12 month low of $122.31 and a 12 month high of $166.33. The company has a market cap of $16.51 billion, a PE ratio of 28.68 and a beta of 1.23. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.59 and a current ratio of 0.59. The stock's fifty day moving average is $150.21 and its 200-day moving average is $145.65.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, Director Thomas Reifenheiser sold 8,099 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $149.03, for a total transaction of $1,206,993.97. Following the transaction, the director owned 36,387 shares of the company's stock, valued at $5,422,754.61. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jay Johnson sold 7,600 shares of the company's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $156.92, for a total value of $1,192,592.00. The SEC filing for this sale provides additional information. Company insiders own 15.24% of the company's stock.

Institutional Investors Weigh In On Lamar Advertising

A number of large investors have recently added to or reduced their stakes in the business. ZWJ Investment Counsel Inc. raised its position in shares of Lamar Advertising by 4.8% in the third quarter. ZWJ Investment Counsel Inc. now owns 1,607 shares of the real estate investment trust's stock valued at $232,000 after purchasing an additional 74 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Lamar Advertising by 0.9% during the 1st quarter. First Citizens Bank & Trust Co. now owns 8,821 shares of the real estate investment trust's stock worth $1,117,000 after buying an additional 75 shares during the period. Gamco Investors INC. ET AL grew its stake in Lamar Advertising by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 7,523 shares of the real estate investment trust's stock valued at $953,000 after buying an additional 78 shares during the last quarter. REAP Financial Group LLC grew its stake in Lamar Advertising by 9.3% in the 3rd quarter. REAP Financial Group LLC now owns 948 shares of the real estate investment trust's stock valued at $137,000 after buying an additional 81 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Lamar Advertising by 53.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 243 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 85 shares during the period. Institutional investors own 93.78% of the company's stock.

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.

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