Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $160.00 at TD Cowen

Lamar Advertising (NASDAQ:LAMR) had its price objective boosted by TD Cowen from $142.00 to $160.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company started coverage on Lamar Advertising in a research report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. Morgan Stanley raised their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Performance

Shares of LAMR stock traded down $2.04 on Monday, reaching $128.00. The stock had a trading volume of 48,032 shares, compared to its average volume of 403,930. The stock has a market cap of $13.09 billion, a P/E ratio of 26.01 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88. The company has a 50 day simple moving average of $131.84 and a 200 day simple moving average of $123.08.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 EPS. Equities research analysts expect that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.38%. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

Institutional Trading of Lamar Advertising

Large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. Concord Wealth Partners purchased a new position in Lamar Advertising during the third quarter worth approximately $26,000. Whittier Trust Co. lifted its position in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Assetmark Inc. boosted its stake in Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in Lamar Advertising in the 2nd quarter valued at $30,000. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

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.