Lamar Advertising (NASDAQ:LAMR) Price Target Lowered to $126.00 at JPMorgan Chase & Co.

Lamar Advertising (NASDAQ:LAMR) had its target price reduced by research analysts at JPMorgan Chase & Co. from $129.00 to $126.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 3.38% from the stock’s current price.

LAMR has been the topic of a number of other research reports. Wells Fargo & Company cut their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Morgan Stanley upped their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. TD Cowen lifted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $133.40.

Lamar Advertising Stock Down 0.3 %

Shares of LAMR traded down $0.43 during midday trading on Friday, hitting $121.89. The company had a trading volume of 55,623 shares, compared to its average volume of 486,616. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 52 week low of $107.22 and a 52 week high of $139.88. The company’s 50 day moving average price is $124.74 and its 200 day moving average price is $127.31. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 24.38 and a beta of 1.51.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. On average, equities research analysts predict that Lamar Advertising will post 7.49 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in Lamar Advertising in the 3rd quarter worth approximately $43,665,000. JPMorgan Chase & Co. lifted its holdings in shares of Lamar Advertising by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Lamar Advertising by 19,961.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after buying an additional 109,790 shares during the period. Franklin Resources Inc. grew its holdings in shares of Lamar Advertising by 39.8% during the third quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after buying an additional 14,672 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Lamar Advertising by 96.0% during the third quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after buying an additional 47,746 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

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.