Lamar Advertising (NASDAQ:LAMR) Stock Rating Lowered by StockNews.com

Lamar Advertising (NASDAQ:LAMR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Other equities analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th.

Lamar Advertising Stock Up 0.7 %

Shares of NASDAQ:LAMR opened at $117.51 on Monday. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 24.13 and a beta of 1.49. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $121.99. The business’s 50 day moving average is $115.30 and its 200 day moving average is $106.49.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.71). The company had revenue of $498.15 million for the quarter, compared to the consensus estimate of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. Lamar Advertising’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. On average, sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lamar Advertising

Large investors have recently added to or reduced their stakes in the company. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Lamar Advertising in the first quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Lamar Advertising during the first quarter valued at approximately $27,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Lamar Advertising during the third quarter valued at approximately $30,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Lamar Advertising in the 4th quarter worth approximately $30,000. Finally, Quarry LP raised its holdings in Lamar Advertising by 70.4% in the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 133 shares during 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.