Lamar Advertising Company (NASDAQ:LAMR) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Lamar Advertising: one recommends selling, three recommend holding and two recommend buying. Their average 12-month price target is $159.14.
• LAMR shares fell 0.5% to $162.62 in Wednesday trading, within a 12-month range of $122.31 to $166.33.
• The company raised its quarterly dividend from $1.60 to $1.65 per share, equivalent to $6.60 annually and a 4.1% yield; its reported payout ratio is 116.4%.

Lamar Advertising Company (NASDAQ:LAMR - Get Free Report) has been given a consensus recommendation of "Hold" by the six analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $159.14.

A number of equities analysts recently commented on LAMR shares. JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $160.00 to $161.00 and gave the stock a "neutral" rating in a research note on Friday, November 6th. Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a research note on Friday, August 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Lamar Advertising in a report on Wednesday, August 19th. Wells Fargo & Company lifted their price target on Lamar Advertising from $156.00 to $158.00 and gave the company an "equal weight" rating in a report on Friday, November 6th. Finally, Cfra lowered Lamar Advertising from a "hold" rating to a "sell" rating and set a $145.00 price target on the stock. in a research report on Wednesday.

Lamar Advertising Trading Down 0.5%

LAMR traded down $0.78 during trading on Wednesday, reaching $162.62. The company had a trading volume of 725,142 shares, compared to its average volume of 597,233. Lamar Advertising has a 12-month low of $122.31 and a 12-month high of $166.33. The firm's 50-day simple moving average is $150.21 and its 200 day simple moving average is $145.65. The company has a market cap of $16.51 billion, a price-to-earnings 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.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a dividend of $1.65 per share. This is a boost from Lamar Advertising's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, September 21st. This represents a $6.60 annualized dividend and a yield of 4.1%. Lamar Advertising's dividend payout ratio (DPR) is presently 116.40%.

Insider Transactions at Lamar Advertising

In related news, CFO Jay Johnson sold 7,600 shares of the firm'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 transaction of $1,192,592.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas V. Reifenheiser sold 8,099 shares of the business's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $149.03, for a total transaction of $1,206,993.97. Following the transaction, the director directly owned 36,387 shares in the company, valued at $5,422,754.61. The trade was a 18.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lamar Advertising

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new stake in shares of Lamar Advertising during the third quarter worth $2,918,000. Private Wealth Asset Management LLC acquired a new position in shares of Lamar Advertising during the 3rd quarter worth about $414,000. Private Advisor Group LLC increased its position in Lamar Advertising by 280.9% during the third quarter. Private Advisor Group LLC now owns 14,306 shares of the real estate investment trust's stock worth $2,062,000 after acquiring an additional 10,550 shares during the period. Focus Advisor Solutions LLC lifted its stake in shares of Lamar Advertising by 123.8% in the third quarter. Focus Advisor Solutions LLC now owns 10,319 shares of the real estate investment trust's stock valued at $1,487,000 after buying an additional 5,708 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Lamar Advertising during the 3rd quarter worth approximately $381,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Company Profile

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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