Lamar Advertising (NASDAQ:LAMR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Lamar Advertising (NASDAQ:LAMR) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $122.00 to $128.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 0.34% from the company’s current price.

A number of other research analysts have also weighed in on LAMR. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Weiss Ratings downgraded shares of Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company cut their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $131.75.

Lamar Advertising Stock Down 0.4%

Lamar Advertising stock opened at $127.56 on Wednesday. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The company’s 50-day moving average is $122.48 and its 200-day moving average is $121.68. The firm has a market capitalization of $12.91 billion, a PE ratio of 29.67 and a beta of 1.36. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $135.91.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $585.54 million during the quarter, compared to analysts’ expectations of $584.00 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Insider Activity

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 14.99% of the company’s stock.

Institutional Trading of Lamar Advertising

A number of institutional investors have recently bought and sold shares of the business. Focus Partners Wealth raised its position in shares of Lamar Advertising by 14.6% during the first quarter. Focus Partners Wealth now owns 21,739 shares of the real estate investment trust’s stock worth $2,473,000 after acquiring an additional 2,768 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Lamar Advertising by 0.8% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,106 shares of the real estate investment trust’s stock worth $11,785,000 after purchasing an additional 733 shares during the last quarter. Millennium Management LLC lifted its position in shares of Lamar Advertising by 158.6% in the 1st quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after purchasing an additional 188,213 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Lamar Advertising by 5.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,357 shares of the real estate investment trust’s stock worth $2,349,000 after purchasing an additional 944 shares during the period. Finally, Meixler Investment Management Ltd. boosted its stake in shares of Lamar Advertising by 47.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the real estate investment trust’s stock valued at $1,171,000 after purchasing an additional 3,086 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

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.