Morgan Stanley Boosts Lamar Advertising (LAMR) Price Target to $70.00

Lamar Advertising (NASDAQ:LAMR) had its price objective increased by analysts at Morgan Stanley from $68.00 to $70.00 in a report issued on Friday. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would indicate a potential upside of 6.11% from the company’s current price.

Several other research analysts have also recently issued reports on LAMR. BidaskClub raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Citigroup cut shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 target price for the company. in a report on Wednesday, December 20th. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Lamar Advertising has a consensus rating of “Hold” and an average target price of $72.25.

Shares of Lamar Advertising (NASDAQ:LAMR) traded up $0.05 during trading on Friday, reaching $65.97. 481,969 shares of the company’s stock traded hands, compared to its average volume of 574,272. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $6,686.42, a PE ratio of 20.73, a PEG ratio of 4.41 and a beta of 1.02. Lamar Advertising has a twelve month low of $62.45 and a twelve month high of $79.17.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.34). The firm had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $392.10 million. Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $0.87 earnings per share. research analysts forecast that Lamar Advertising will post 4.84 earnings per share for the current fiscal year.

In other news, Director Stephen P. Mumblow sold 4,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total value of $313,320.00. Following the completion of the sale, the director now directly owns 11,031 shares in the company, valued at $864,058.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in shares of Lamar Advertising by 2.2% in the third quarter. Janus Henderson Group PLC now owns 8,306,313 shares of the real estate investment trust’s stock worth $569,232,000 after acquiring an additional 177,729 shares during the period. Cohen & Steers Inc. grew its stake in shares of Lamar Advertising by 1.2% in the third quarter. Cohen & Steers Inc. now owns 2,955,566 shares of the real estate investment trust’s stock worth $202,545,000 after acquiring an additional 36,294 shares during the period. Victory Capital Management Inc. grew its stake in shares of Lamar Advertising by 8.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,807,177 shares of the real estate investment trust’s stock worth $208,404,000 after acquiring an additional 211,029 shares during the period. State Street Corp grew its stake in shares of Lamar Advertising by 2.7% in the second quarter. State Street Corp now owns 2,225,264 shares of the real estate investment trust’s stock worth $163,707,000 after acquiring an additional 58,453 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Lamar Advertising by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 2,199,900 shares of the real estate investment trust’s stock worth $150,760,000 after acquiring an additional 81,872 shares during the period. Hedge funds and other institutional investors own 84.37% of the company’s stock.

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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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