JPMorgan Chase & Co. Increases Lamar Advertising (NASDAQ:LAMR) Price Target to $121.00

Lamar Advertising (NASDAQ:LAMR) had its price objective increased by JPMorgan Chase & Co. from $117.00 to $121.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on LAMR. TD Cowen began coverage on shares of Lamar Advertising in a research note on Tuesday, July 16th. They issued a buy rating and a $135.00 price target on the stock. Citigroup lowered shares of Lamar Advertising from a buy rating to a neutral rating and set a $122.00 target price on the stock. in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Lamar Advertising from a hold rating to a buy rating in a report on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $122.00.

Lamar Advertising Trading Down 2.9 %

LAMR opened at $115.56 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s 50 day moving average price is $117.91 and its 200-day moving average price is $114.77. Lamar Advertising has a one year low of $77.21 and a one year high of $123.25. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 23.73 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business had revenue of $498.15 million during the quarter, compared to the consensus estimate of $496.98 million. During the same period last year, the company earned $1.41 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Lamar Advertising will post 7.69 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.50%. The ex-dividend date was Monday, June 17th. Lamar Advertising’s payout ratio is 106.78%.

Insider Buying and Selling

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lamar Advertising

Large investors have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC grew its position in shares of Lamar Advertising by 22.9% in the 2nd quarter. Impact Partnership Wealth LLC now owns 3,175 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 592 shares during the last quarter. Markel Group Inc. grew its holdings in Lamar Advertising by 22.1% in the second quarter. Markel Group Inc. now owns 94,000 shares of the real estate investment trust’s stock worth $11,236,000 after purchasing an additional 17,000 shares during the last quarter. Foundations Investment Advisors LLC increased its position in shares of Lamar Advertising by 4.6% during the second quarter. Foundations Investment Advisors LLC now owns 3,664 shares of the real estate investment trust’s stock worth $438,000 after purchasing an additional 162 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Lamar Advertising by 13.1% during the second quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust’s stock worth $7,225,000 after purchasing an additional 6,979 shares in the last quarter. Finally, JPL Wealth Management LLC lifted its holdings in shares of Lamar Advertising by 13.8% during the 2nd quarter. JPL Wealth Management LLC now owns 24,241 shares of the real estate investment trust’s stock valued at $2,898,000 after purchasing an additional 2,938 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Company Profile

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.