Lamar Advertising (NASDAQ:LAMR) has been given an average rating of “Hold” by the nine research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $73.25.
LAMR has been the subject of several analyst reports. TheStreet downgraded shares of Lamar Advertising from a “b” rating to a “c+” rating in a research note on Wednesday, May 2nd. Morgan Stanley raised their price objective on shares of Lamar Advertising from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, February 9th. BidaskClub raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, MKM Partners lifted their price target on shares of Lamar Advertising from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, March 8th.
Lamar Advertising traded down $0.01, hitting $67.83, during trading on Thursday, according to MarketBeat Ratings. The stock had a trading volume of 333,039 shares, compared to its average volume of 623,933. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market cap of $5.67 billion, a P/E ratio of 13.43, a PEG ratio of 4.38 and a beta of 1.06. Lamar Advertising has a one year low of $67.41 and a one year high of $68.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 5.37%. Lamar Advertising’s dividend payout ratio is presently 72.08%.
In other news, CFO Keith A. Istre sold 41,075 shares of Lamar Advertising stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $66.37, for a total transaction of $2,726,147.75. Following the completion of the sale, the chief financial officer now owns 134,472 shares of the company’s stock, valued at $8,924,906.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.64% of the company’s stock.
Several institutional investors have recently bought and sold shares of LAMR. Daiwa Securities Group Inc. raised its stake in Lamar Advertising by 54.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,064,563 shares of the real estate investment trust’s stock worth $153,273,000 after buying an additional 730,220 shares in the last quarter. Waratah Capital Advisors Ltd. bought a new position in Lamar Advertising in the first quarter worth approximately $34,843,000. Renaissance Technologies LLC raised its stake in Lamar Advertising by 64.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,068,212 shares of the real estate investment trust’s stock worth $79,304,000 after buying an additional 420,412 shares in the last quarter. Paloma Partners Management Co bought a new position in Lamar Advertising in the fourth quarter worth approximately $19,249,000. Finally, Dimensional Fund Advisors LP raised its stake in Lamar Advertising by 35.8% in the first quarter. Dimensional Fund Advisors LP now owns 982,473 shares of the real estate investment trust’s stock worth $62,544,000 after buying an additional 258,977 shares in the last quarter. 98.27% of the stock is owned by hedge funds and other institutional investors.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq:LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States, Canada and Puerto Rico. Lamar offers advertisers a variety of billboard, interstate logo and transit advertising formats, helping both local businesses and national brands reach broad audiences every day.
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