JPMorgan Chase & Co. Boosts Lamar Advertising (NASDAQ:LAMR) Price Target to $128.00

Lamar Advertising (NASDAQ:LAMR) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $122.00 to $128.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 0.52% from the company’s current price.

Several other equities analysts have also commented on the stock. Wells Fargo & Company lowered their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. Weiss Ratings downgraded Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $129.25.

Lamar Advertising Trading Up 0.9%

Shares of NASDAQ:LAMR traded up $1.19 on Wednesday, hitting $128.66. The company had a trading volume of 199,287 shares, compared to its average volume of 596,203. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $135.91. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The firm’s 50-day simple moving average is $122.45 and its two-hundred day simple moving average is $121.59. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 29.93 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $585.54 million for the quarter, compared to analysts’ expectations of $584.00 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Equities analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LAMR. True Wealth Design LLC increased its position in shares of Lamar Advertising by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 168 shares during the last quarter. 1248 Management LLC acquired a new position in Lamar Advertising during the first quarter worth $26,000. Quent Capital LLC acquired a new stake in shares of Lamar Advertising in the third quarter valued at $26,000. Alpine Bank Wealth Management acquired a new position in shares of Lamar Advertising in the third quarter worth $27,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter valued at approximately $28,000. 93.78% of the stock is currently owned by hedge funds and other 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.