Lamar Advertising (NASDAQ:LAMR) Given New $140.00 Price Target at TD Cowen

Lamar Advertising (NASDAQ:LAMR) had its price target hoisted by equities research analysts at TD Cowen from $135.00 to $140.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. TD Cowen’s price target indicates a potential upside of 21.26% from the stock’s previous close.

A number of other research analysts have also weighed in on LAMR. JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research note on Thursday, July 11th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $123.25.

Lamar Advertising Price Performance

LAMR stock traded down $1.17 during midday trading on Friday, reaching $115.45. The stock had a trading volume of 469,974 shares, compared to its average volume of 414,400. The company’s fifty day simple moving average is $117.53 and its 200 day simple moving average is $115.07. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 23.71 and a beta of 1.52. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $123.25.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to analysts’ expectations of $564.96 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 EPS. As a group, sell-side analysts predict that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Institutional Trading of Lamar Advertising

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in shares of Lamar Advertising during the 4th quarter worth about $111,255,000. Morningstar Investment Services LLC increased its position in shares of Lamar Advertising by 97.6% during the 4th quarter. Morningstar Investment Services LLC now owns 913,833 shares of the real estate investment trust’s stock worth $98,347,000 after purchasing an additional 451,429 shares during the last quarter. Paralel Advisors LLC acquired a new stake in shares of Lamar Advertising during the 4th quarter worth about $3,950,000. Charles Schwab Investment Management Inc. boosted its holdings in Lamar Advertising by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,023 shares of the real estate investment trust’s stock valued at $110,534,000 after acquiring an additional 30,567 shares during the period. Finally, Centersquare Investment Management LLC boosted its holdings in Lamar Advertising by 82.8% during the 1st quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after acquiring an additional 281,582 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

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.