Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $121.00

Lamar Advertising (NASDAQ:LAMR) had its target price upped by JPMorgan Chase & Co. from $117.00 to $121.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the stock. StockNews.com raised shares of Lamar Advertising from a hold rating to a buy rating in a research note on Friday, May 31st. TD Cowen initiated coverage on shares of Lamar Advertising in a research report on Tuesday, July 16th. They issued a buy rating and a $135.00 price target for the company. Finally, Citigroup downgraded shares of Lamar Advertising from a buy rating to a neutral rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $122.00.

Lamar Advertising Stock Down 2.9 %

LAMR stock opened at $115.56 on Wednesday. The firm’s fifty day simple moving average is $117.91 and its 200-day simple moving average is $114.71. The company has a market capitalization of $11.82 billion, a P/E ratio of 23.73 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $123.25.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same quarter last year, the company earned $1.41 earnings per share. Lamar Advertising’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Monday, June 17th. Lamar Advertising’s payout ratio is 106.78%.

Insider Activity at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now directly owns 32,178 shares in the company, valued at $3,862,968.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 14.98% of the company’s stock.

Institutional Investors Weigh In On Lamar Advertising

Hedge funds and other institutional investors have recently bought and sold shares of the business. Impact Partnership Wealth LLC increased its stake in Lamar Advertising by 22.9% in the 2nd quarter. Impact Partnership Wealth LLC now owns 3,175 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 592 shares in the last quarter. Markel Group Inc. grew its stake in Lamar Advertising by 22.1% during the 2nd quarter. Markel Group Inc. now owns 94,000 shares of the real estate investment trust’s stock valued at $11,236,000 after acquiring an additional 17,000 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in Lamar Advertising by 4.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 3,664 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 162 shares in the last quarter. Natixis Advisors LLC grew its stake in Lamar Advertising by 13.1% during the 2nd quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock valued at $7,225,000 after acquiring an additional 6,979 shares in the last quarter. Finally, JPL Wealth Management LLC grew its stake in Lamar Advertising by 13.8% during the 2nd quarter. JPL Wealth Management LLC now owns 24,241 shares of the real estate investment trust’s stock valued at $2,898,000 after acquiring an additional 2,938 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

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.