ValuEngine Upgrades Lamar Advertising Company (NASDAQ:LAMR) to Buy
Lamar Advertising Company (NASDAQ:LAMR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.
LAMR has been the topic of a number of other research reports. Zacks Investment Research downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. Loop Capital reissued a “buy” rating and set a $87.00 price objective on shares of Lamar Advertising in a report on Friday, June 9th. Wells Fargo & Company downgraded Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. MKM Partners cut their price objective on Lamar Advertising from $73.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, May 15th. Finally, BidaskClub downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Lamar Advertising presently has an average rating of “Hold” and an average price target of $75.25.
Lamar Advertising (LAMR) opened at 65.13 on Thursday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 22.17 and a beta of 1.12. Lamar Advertising has a 1-year low of $58.68 and a 1-year high of $79.09. The firm has a 50-day moving average price of $71.58 and a 200-day moving average price of $73.13.
Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.37. The business had revenue of $397.10 million during the quarter, compared to analyst estimates of $399.09 million. Lamar Advertising had a net margin of 19.75% and a return on equity of 28.28%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. On average, analysts expect that Lamar Advertising will post $3.13 earnings per share for the current fiscal year.
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In other Lamar Advertising news, Director Stephen P. Mumblow sold 20,000 shares of Lamar Advertising stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $70.61, for a total transaction of $1,412,200.00. Following the transaction, the director now directly owns 5,970 shares of the company’s stock, valued at approximately $421,541.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.66% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC bought a new position in shares of Lamar Advertising during the first quarter valued at approximately $169,000. Westpac Banking Corp bought a new position in shares of Lamar Advertising during the second quarter valued at approximately $176,000. HL Financial Services LLC bought a new position in shares of Lamar Advertising during the first quarter valued at approximately $217,000. Creative Planning increased its position in shares of Lamar Advertising by 11.1% in the first quarter. Creative Planning now owns 2,906 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 290 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of Lamar Advertising during the first quarter valued at approximately $220,000. 85.94% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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