Lamar Advertising (NASDAQ:LAMR) Stock Gets Price Target Bump from JPMorgan Chase & Co.

Lamar Advertising (NASDAQ:LAMR) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $160.00 to $161.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.21% from the company’s current price.

Several other research firms also recently commented on LAMR. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Wells Fargo & Company lifted their price objective on shares of Lamar Advertising from $156.00 to $158.00 and gave the company an “equal weight” rating in a report on Friday. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $145.00 to $160.00 in a research report on Friday, July 10th. Finally, Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $161.50.

Lamar Advertising Stock Performance

LAMR stock opened at $155.99 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.16. The business’s fifty day simple moving average is $149.76 and its two-hundred day simple moving average is $145.35. Lamar Advertising has a twelve month low of $120.54 and a twelve month high of $166.33. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 27.51 and a beta of 1.23.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $1.58 earnings per share for the quarter, hitting the consensus estimate of $1.58. The business had revenue of $616.75 million during the quarter, compared to the consensus estimate of $606.61 million. Lamar Advertising had a return on equity of 57.12% and a net margin of 24.36%. Analysts predict that Lamar Advertising will post 8.40 earnings per share for the current year.

Insider Buying and Selling at Lamar Advertising

In other news, Director Thomas Reifenheiser sold 8,099 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $149.03, for a total transaction of $1,206,993.97. Following the transaction, the director owned 36,387 shares of the company’s stock, valued at approximately $5,422,754.61. This represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 15.24% of the company’s stock.

Institutional Trading of Lamar Advertising

Several institutional investors and hedge funds have recently made changes to their positions in the company. Trillium Asset Management LLC grew its position in shares of Lamar Advertising by 0.5% in the 3rd quarter. Trillium Asset Management LLC now owns 54,114 shares of the real estate investment trust’s stock worth $7,798,000 after buying an additional 271 shares during the last quarter. Ibex Wealth Advisors lifted its position in Lamar Advertising by 3.7% during the third quarter. Ibex Wealth Advisors now owns 64,433 shares of the real estate investment trust’s stock valued at $9,285,000 after acquiring an additional 2,284 shares during the last quarter. Allworth Financial LP lifted its position in Lamar Advertising by 24.6% during the third quarter. Allworth Financial LP now owns 2,602 shares of the real estate investment trust’s stock valued at $406,000 after acquiring an additional 513 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Lamar Advertising by 116.3% during the third quarter. Russell Investments Group Ltd. now owns 138,653 shares of the real estate investment trust’s stock valued at $19,983,000 after acquiring an additional 74,539 shares during the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in Lamar Advertising during the third quarter valued at approximately $58,000. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Company Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations.

The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.

Lamar is led by Chief Executive Officer Sean Reilly.