Lamar Advertising (NASDAQ:LAMR) Coverage Initiated at Wells Fargo & Company

Analysts at Wells Fargo & Company started coverage on shares of Lamar Advertising (NASDAQ:LAMR) in a report released on Thursday, Briefing.com reports. The firm set an “equal weight” rating and a $132.00 price target on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 0.80% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. TD Cowen raised their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup cut 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. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.00.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $130.95 on Thursday. The stock has a market capitalization of $13.39 billion, a P/E ratio of 26.89 and a beta of 1.52. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The business’s fifty day moving average price is $120.89 and its 200 day moving average price is $118.22. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $132.21.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm had revenue of $565.25 million for the quarter, compared to analysts’ expectations of $564.96 million. During the same quarter in the previous year, the firm posted $1.90 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LAMR. Vanguard Group Inc. grew its stake in Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock valued at $1,517,554,000 after purchasing an additional 68,484 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Lamar Advertising by 0.4% during the 1st quarter. DAVENPORT & Co LLC now owns 1,770,668 shares of the real estate investment trust’s stock valued at $210,889,000 after buying an additional 7,794 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Lamar Advertising by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock worth $159,283,000 after buying an additional 75,955 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Lamar Advertising in the fourth quarter worth $111,255,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Lamar Advertising by 81.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after acquiring an additional 420,311 shares in the last quarter. Institutional investors and hedge funds 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.