Lamar Advertising (NASDAQ:LAMR) Now Covered by Wells Fargo & Company

Equities researchers at Wells Fargo & Company initiated coverage on shares of Lamar Advertising (NASDAQ:LAMR) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $132.00 price target on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 1.15% from the company’s current price.

A number of other analysts have also commented on LAMR. JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen boosted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Finally, Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Stock Performance

LAMR opened at $133.54 on Thursday. The company has a market capitalization of $13.65 billion, a price-to-earnings ratio of 27.42 and a beta of 1.52. The business’s 50-day moving average price is $121.49 and its two-hundred day moving average price is $118.44. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $134.09. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.41 and a quick ratio of 0.41.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 EPS. Equities analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LAMR. SPC Financial Inc. raised its holdings in Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 103 shares during the period. Woodward Diversified Capital LLC increased its stake in shares of Lamar Advertising by 2.6% during the first quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 113 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in Lamar Advertising by 1.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock worth $789,000 after purchasing an additional 114 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Lamar Advertising by 0.4% in the 2nd quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock valued at $3,301,000 after purchasing an additional 121 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Lamar Advertising by 1.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock valued at $846,000 after buying an additional 123 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

About Lamar Advertising

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.