Lamar Advertising Company (LAMR) Rating Increased to Buy at ValuEngine
Lamar Advertising Company (NASDAQ:LAMR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Monday.
Several other brokerages have also recently weighed in on LAMR. Loop Capital reiterated a “buy” rating and issued a $87.00 target price on shares of Lamar Advertising in a report on Friday, June 9th. BidaskClub upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Wells Fargo & Company downgraded Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Finally, MKM Partners decreased their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $72.50.
Lamar Advertising (NASDAQ:LAMR) opened at 67.46 on Monday. Lamar Advertising has a 52 week low of $58.68 and a 52 week high of $79.09. The company has a 50 day moving average of $65.24 and a 200 day moving average of $70.13.
Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by ($0.37). The firm had revenue of $397.10 million during the quarter, compared to the consensus estimate of $399.09 million. Lamar Advertising had a return on equity of 28.21% and a net margin of 19.75%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. On average, analysts expect that Lamar Advertising will post $3.11 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LAMR. Janus Henderson Group PLC purchased a new stake in shares of Lamar Advertising during the 2nd quarter worth $598,020,000. BlackRock Inc. boosted its position in Lamar Advertising by 7.5% during the second quarter. BlackRock Inc. now owns 7,606,970 shares of the real estate investment trust’s stock valued at $559,646,000 after purchasing an additional 528,392 shares in the last quarter. Vanguard Group Inc. boosted its position in Lamar Advertising by 2.1% during the second quarter. Vanguard Group Inc. now owns 6,742,042 shares of the real estate investment trust’s stock valued at $496,013,000 after purchasing an additional 139,256 shares in the last quarter. Victory Capital Management Inc. boosted its position in Lamar Advertising by 81.2% during the second quarter. Victory Capital Management Inc. now owns 2,403,223 shares of the real estate investment trust’s stock valued at $176,805,000 after purchasing an additional 1,077,170 shares in the last quarter. Finally, State Street Corp boosted its position in Lamar Advertising by 2.7% during the second quarter. State Street Corp now owns 2,225,264 shares of the real estate investment trust’s stock valued at $163,707,000 after purchasing an additional 58,453 shares in the last quarter. 85.05% of the stock is owned by hedge funds and other institutional investors.
About Lamar Advertising
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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