Lamar Advertising (NASDAQ:LAMR) Given New $86.00 Price Target at Imperial Capital
Lamar Advertising (NASDAQ:LAMR) had its price target cut by Imperial Capital from $89.00 to $86.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Imperial Capital’s price objective would suggest a potential upside of 9.04% from the company’s current price. Imperial Capital also issued estimates for Lamar Advertising’s Q4 2019 earnings at $1.55 EPS, Q1 2020 earnings at $1.06 EPS, Q2 2020 earnings at $1.64 EPS and Q4 2020 earnings at $1.67 EPS. The analysts noted that the move was a valuation call.
Several other equities research analysts also recently weighed in on the company. BidaskClub downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a report on Saturday, September 7th. ValuEngine downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $80.75.
Shares of LAMR stock traded down $0.87 during trading hours on Wednesday, hitting $78.87. The stock had a trading volume of 7,679 shares, compared to its average volume of 298,964. The firm has a market capitalization of $7.73 billion, a PE ratio of 14.32 and a beta of 0.96. Lamar Advertising has a twelve month low of $64.51 and a twelve month high of $84.50. The stock’s 50 day moving average is $77.53 and its 200 day moving average is $79.52. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.50 and a quick ratio of 0.50.
Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in Lamar Advertising by 169.5% in the first quarter. Parallel Advisors LLC now owns 318 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares during the period. First Interstate Bank acquired a new stake in Lamar Advertising in the second quarter valued at $27,000. Arcadia Investment Management Corp MI acquired a new stake in Lamar Advertising in the second quarter valued at $32,000. Penserra Capital Management LLC acquired a new stake in Lamar Advertising in the first quarter valued at $39,000. Finally, Ossiam acquired a new stake in Lamar Advertising in the second quarter valued at $49,000. 81.02% of the stock is owned by institutional investors.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
See Also: What causes a yield curve to invert?
Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.