Shares of Lamar Advertising Co (NASDAQ:LAMR) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $76.80.
Several equities research analysts recently issued reports on the company. ValuEngine raised Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Zacks Investment Research lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. BidaskClub raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Imperial Capital started coverage on Lamar Advertising in a research note on Thursday, September 13th. They set an “outperform” rating and a $93.00 price target for the company. Finally, Citigroup lifted their price target on Lamar Advertising from $68.00 to $69.00 and gave the stock a “sell” rating in a research note on Wednesday, August 15th.
NASDAQ:LAMR traded up $0.20 during trading hours on Monday, hitting $76.04. 367,100 shares of the company’s stock traded hands, compared to its average volume of 524,465. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 15.06 and a beta of 1.11. Lamar Advertising has a 52 week low of $61.36 and a 52 week high of $80.68. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.43 and a current ratio of 1.43.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 17th will be paid a dividend of $0.92 per share. The ex-dividend date is Friday, December 14th. This represents a $3.68 annualized dividend and a yield of 4.84%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.91. Lamar Advertising’s payout ratio is 72.08%.
In other Lamar Advertising news, CFO Keith A. Istre sold 20,791 shares of Lamar Advertising stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $76.64, for a total transaction of $1,593,422.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.64% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Gilman Hill Asset Management LLC lifted its stake in Lamar Advertising by 3.7% during the third quarter. Gilman Hill Asset Management LLC now owns 68,054 shares of the real estate investment trust’s stock worth $5,295,000 after purchasing an additional 2,427 shares during the last quarter. Waratah Capital Advisors Ltd. increased its holdings in shares of Lamar Advertising by 45.1% in the third quarter. Waratah Capital Advisors Ltd. now owns 429,914 shares of the real estate investment trust’s stock worth $33,447,000 after buying an additional 133,621 shares during the period. FMR LLC increased its holdings in shares of Lamar Advertising by 87.2% in the second quarter. FMR LLC now owns 588,216 shares of the real estate investment trust’s stock worth $40,181,000 after buying an additional 274,070 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Lamar Advertising by 6.1% in the third quarter. Janney Montgomery Scott LLC now owns 45,571 shares of the real estate investment trust’s stock worth $3,545,000 after buying an additional 2,630 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Lamar Advertising by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 2,303,819 shares of the real estate investment trust’s stock worth $157,374,000 after buying an additional 165,182 shares during the period. 81.33% 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 and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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