Lamar Advertising (NASDAQ:LAMR) was upgraded by research analysts at TheStreet from a "c+" rating to a "b-" rating in a research report issued on Monday, TheStreetRatingsTable reports.
A number of other research firms also recently weighed in on LAMR. ValuEngine raised Lamar Advertising from a "sell" rating to a "hold" rating in a research note on Monday, November 2nd. BidaskClub raised Lamar Advertising from a "hold" rating to a "buy" rating in a research note on Friday, December 18th. MKM Partners upped their price target on Lamar Advertising from $67.00 to $80.00 in a research note on Wednesday, November 11th. Finally, Morgan Stanley raised Lamar Advertising from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $77.00 to $81.00 in a research note on Monday, November 2nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of "Hold" and an average price target of $72.33.
NASDAQ LAMR opened at $83.37 on Monday. The business's 50-day moving average price is $81.40 and its two-hundred day moving average price is $71.19. Lamar Advertising has a 12 month low of $30.89 and a 12 month high of $96.82. The firm has a market capitalization of $8.41 billion, a PE ratio of 35.48 and a beta of 1.45. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.49.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Tuesday, November 10th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.18 by ($0.56). The business had revenue of $386.10 million during the quarter, compared to analyst estimates of $377.13 million. Lamar Advertising had a net margin of 14.81% and a return on equity of 20.73%. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, analysts forecast that Lamar Advertising will post 4.71 earnings per share for the current fiscal year.
In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 3,011 shares of the stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $73.51, for a total transaction of $221,338.61. Following the completion of the transaction, the chief financial officer now directly owns 11,821 shares of the company's stock, valued at $868,961.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.02% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC increased its position in shares of Lamar Advertising by 4.1% during the third quarter. Global Retirement Partners LLC now owns 3,589 shares of the real estate investment trust's stock valued at $237,000 after buying an additional 142 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Lamar Advertising by 52.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 591 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 204 shares in the last quarter. Naples Global Advisors LLC increased its stake in Lamar Advertising by 2.4% during the 3rd quarter. Naples Global Advisors LLC now owns 9,760 shares of the real estate investment trust's stock valued at $646,000 after purchasing an additional 225 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Lamar Advertising by 21.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,598 shares of the real estate investment trust's stock worth $103,000 after buying an additional 285 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its stake in shares of Lamar Advertising by 18.8% in the third quarter. Clearstead Advisors LLC now owns 2,650 shares of the real estate investment trust's stock worth $175,000 after buying an additional 420 shares in the last quarter. Institutional investors own 74.50% 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 over 357,500 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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