Lamar Advertising (NASDAQ:LAMR) Downgraded by Cfra to Sell

Cfra cut shares of Lamar Advertising (NASDAQ:LAMR) from a hold rating to a sell rating in a report published on Wednesday morning,FinViz reports. Cfra currently has $145.00 price target on the real estate investment trust’s stock.

LAMR has been the topic of a number of other reports. Morgan Stanley set a $170.00 price target on shares of Lamar Advertising in a research report on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of Lamar Advertising from $156.00 to $158.00 and gave the company an “equal weight” rating in a report on Friday, November 6th. JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $160.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.14.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $162.62 on Wednesday. Lamar Advertising has a fifty-two week low of $122.31 and a fifty-two week high of $166.33. The firm’s 50-day simple moving average is $150.44 and its 200 day simple moving average is $145.82. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.16. The stock has a market cap of $16.51 billion, a P/E ratio of 18.63 and a beta of 1.23.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 4.1%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, September 21st. Lamar Advertising’s dividend payout ratio is presently 116.40%.

Insiders Place Their Bets

In related news, Director Thomas V. Reifenheiser sold 8,099 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $149.03, for a total value of $1,206,993.97. Following the completion of the sale, the director directly owned 36,387 shares in the company, valued at approximately $5,422,754.61. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jay Johnson sold 7,600 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $156.92, for a total transaction of $1,192,592.00. Additional details regarding this sale are available in the official SEC disclosure. 15.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lamar Advertising

Institutional investors have recently bought and sold shares of the stock. ZWJ Investment Counsel Inc. increased its holdings in shares of Lamar Advertising by 4.8% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 1,607 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 74 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Lamar Advertising by 0.9% during the first quarter. First Citizens Bank & Trust Co. now owns 8,821 shares of the real estate investment trust’s stock valued at $1,117,000 after purchasing an additional 75 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Lamar Advertising by 1.0% during the first quarter. Gamco Investors INC. ET AL now owns 7,523 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 78 shares during the last quarter. REAP Financial Group LLC grew its holdings in Lamar Advertising by 9.3% during the third quarter. REAP Financial Group LLC now owns 948 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 81 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Lamar Advertising by 53.8% in the second quarter. Parkside Financial Bank & Trust now owns 243 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 85 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Company Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.