TD Cowen Increases Lamar Advertising (NASDAQ:LAMR) Price Target to $140.00

Lamar Advertising (NASDAQ:LAMR) had its price target lifted by research analysts at TD Cowen from $135.00 to $140.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. TD Cowen’s price objective would indicate a potential upside of 21.26% from the company’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective on the stock. in a research note on Thursday, July 11th. Finally, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $123.25.

Lamar Advertising Stock Down 1.0 %

NASDAQ:LAMR traded down $1.17 during trading hours on Friday, reaching $115.45. The company had a trading volume of 469,974 shares, compared to its average volume of 414,400. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 23.71 and a beta of 1.52. The business’s 50-day simple moving average is $117.53 and its two-hundred day simple moving average is $115.07. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $123.25.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The company had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 earnings per share. On average, equities analysts expect that Lamar Advertising will post 7.69 earnings per share for the current year.

Hedge Funds Weigh In On Lamar Advertising

Large investors have recently modified their holdings of the business. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Lamar Advertising in the first quarter worth about $25,000. Whittier Trust Co. increased its stake in shares of Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Lamar Advertising in the first quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Lamar Advertising in the second quarter worth about $30,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Lamar Advertising in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Company Profile

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.