Lamar Advertising (NASDAQ:LAMR) Stock Price Expected to Rise, Citigroup Analyst Says

Lamar Advertising (NASDAQ:LAMR) had its target price increased by research analysts at Citigroup from $121.76 to $128.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s target price indicates a potential upside of 3.52% from the stock’s previous close.

Several other analysts have also recently issued reports on LAMR. JPMorgan Chase & Co. dropped their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a report on Friday. Wells Fargo & Company cut their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley increased their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $123.65 on Tuesday. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 35.03 and a beta of 1.51. Lamar Advertising has a 52 week low of $107.22 and a 52 week high of $139.88. The firm has a 50-day simple moving average of $124.47 and a 200-day simple moving average of $127.64. 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 (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, equities analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lamar Advertising

A number of hedge funds have recently made changes to their positions in LAMR. Blue Trust Inc. lifted its stake in Lamar Advertising by 444.1% during the third 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. Brooklyn Investment Group acquired a new position in Lamar Advertising during the 3rd quarter worth about $25,000. Rialto Wealth Management LLC purchased a new position in Lamar Advertising during the 4th quarter valued at about $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising during the 3rd quarter valued at about $26,000. Finally, Assetmark Inc. grew its position in Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

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.