Lamar Advertising (NASDAQ:LAMR) Price Target Lowered to $119.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered Lamar Advertising's price target from $122.00 to $119.00, while maintaining an "equal weight" rating, suggesting a potential upside of 4.54% from the current price.
• Despite the price decrease from Wells Fargo, Morgan Stanley has increased their target for the company from $125.00 to $135.00, indicating differing perspectives among analysts.
• Lamar Advertising's shares have decreased by 1.4% recently, with the stock currently trading at $113.84, which is significantly below its 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) had its price objective decreased by equities researchers at Wells Fargo & Company from $122.00 to $119.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would suggest a potential upside of 4.54% from the stock's current price.

A number of other research firms also recently weighed in on LAMR. Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $134.20.

Lamar Advertising Stock Down 1.4%

Shares of NASDAQ LAMR traded down $1.66 during trading on Monday, reaching $113.84. The company had a trading volume of 87,313 shares, compared to its average volume of 615,038. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88. The stock has a market cap of $11.66 billion, a PE ratio of 26.48 and a beta of 1.36. The business's 50-day moving average is $122.60 and its 200 day moving average is $119.42. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.74. The firm had revenue of $579.31 million for the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a return on equity of 40.03% and a net margin of 19.72%. As a group, equities analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Institutional Trading of Lamar Advertising

Several institutional investors have recently made changes to their positions in the business. Cohen & Steers Inc. grew its position in shares of Lamar Advertising by 453.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after purchasing an additional 2,180,011 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Lamar Advertising by 27.8% during the second quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust's stock worth $284,577,000 after purchasing an additional 510,025 shares in the last quarter. Hamlin Capital Management LLC grew its position in shares of Lamar Advertising by 2.1% during the second quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust's stock worth $162,431,000 after purchasing an additional 26,893 shares in the last quarter. Northern Trust Corp grew its position in shares of Lamar Advertising by 0.4% during the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust's stock worth $145,967,000 after purchasing an additional 4,495 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lamar Advertising by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock worth $126,258,000 after purchasing an additional 7,426 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.

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