Citigroup Raises Lamar Advertising (NASDAQ:LAMR) Price Target to $145.00

Lamar Advertising (NASDAQ:LAMR) had its price target lifted by equities researchers at Citigroup from $135.00 to $145.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s target price points to a potential upside of 13.89% from the stock’s previous close.

Several other equities analysts have also commented on the company. Weiss Ratings lowered Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Finally, Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Lamar Advertising presently has an average rating of “Hold” and a consensus target price of $131.75.

Lamar Advertising Trading Down 0.6%

Shares of LAMR stock traded down $0.77 during mid-day trading on Thursday, reaching $127.32. The company’s stock had a trading volume of 338,672 shares, compared to its average volume of 597,340. 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 has a market capitalization of $12.89 billion, a PE ratio of 29.63 and a beta of 1.36. The company’s 50 day simple moving average is $122.49 and its 200-day simple moving average is $121.64. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $135.91.

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

Insider Activity at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 14.99% of the company’s stock.

Institutional Trading of Lamar Advertising

Large investors have recently modified their holdings of the company. True Wealth Design LLC boosted its stake in 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 valued at $25,000 after purchasing an additional 168 shares during the period. 1248 Management LLC bought a new stake in shares of Lamar Advertising during the first quarter valued at approximately $26,000. Quent Capital LLC acquired a new position in shares of Lamar Advertising during the third quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of Lamar Advertising during the third quarter worth approximately $27,000. Finally, Ameritas Advisory Services LLC bought a new position in Lamar Advertising in the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

About Lamar Advertising

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.