Lamar Advertising (NASDAQ:LAMR) Stock Position Lowered by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its position in Lamar Advertising (NASDAQ:LAMR) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,002 shares of the real estate investment trust’s stock after selling 501 shares during the quarter. Raymond James Trust N.A.’s holdings in Lamar Advertising were worth $401,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Lamar Advertising by 81.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after acquiring an additional 420,311 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at $43,665,000. International Assets Investment Management LLC increased its stake in Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock worth $38,090,000 after purchasing an additional 284,523 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Lamar Advertising by 42,096.3% during the third quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust’s stock valued at $16,856,000 after buying an additional 125,868 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Lamar Advertising in the third quarter worth approximately $12,838,000. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company lowered their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $133.08 on Wednesday. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 26.62 and a beta of 1.52. Lamar Advertising has a 1 year low of $97.54 and a 1 year high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The business has a fifty day simple moving average of $132.52 and a 200 day simple moving average of $124.01.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same period last year, the business earned $2.04 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

Lamar Advertising 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.