Lamar Advertising (NASDAQ:LAMR) Holdings Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in Lamar Advertising (NASDAQ:LAMR) by 96.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,498 shares of the real estate investment trust’s stock after acquiring an additional 47,746 shares during the period. BNP Paribas Financial Markets’ holdings in Lamar Advertising were worth $13,026,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LAMR. Blue Trust Inc. increased its holdings in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group purchased a new position in Lamar Advertising during the third quarter valued at approximately $25,000. Whittier Trust Co. increased its stake in Lamar Advertising by 144.4% in the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares during the period. Concord Wealth Partners purchased a new stake in Lamar Advertising in the 3rd quarter worth approximately $26,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising during the 2nd quarter valued at $30,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAMR. Wells Fargo & Company cut their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen raised their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Performance

LAMR opened at $134.02 on Monday. The stock has a 50-day moving average of $132.62 and a 200-day moving average of $124.30. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 52-week low of $99.54 and a 52-week high of $139.88. The company has a market cap of $13.72 billion, a PE ratio of 26.80 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same quarter last year, the business earned $2.04 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Lamar Advertising will post 7.52 earnings per share for the current fiscal year.

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.