Wells Fargo & Company Has Lowered Expectations for Lamar Advertising (NASDAQ:LAMR) Stock Price

Lamar Advertising (NASDAQ:LAMR) had its target price lowered by equities researchers at Wells Fargo & Company from $132.00 to $124.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 3.83% from the stock’s previous close.

Several other brokerages also recently issued reports on LAMR. Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Down 0.8 %

LAMR opened at $128.94 on Monday. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 25.79 and a beta of 1.52. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The firm’s 50-day simple moving average is $131.84 and its 200-day simple moving average is $123.08. Lamar Advertising has a twelve month low of $91.20 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same period in the prior year, the company posted $2.04 earnings per share. Lamar Advertising’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its holdings in Lamar Advertising by 148.9% in the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock valued at $58,058,000 after buying an additional 259,979 shares during the period. Capital Investment Counsel LLC raised its position in shares of Lamar Advertising by 2.0% during the 3rd quarter. Capital Investment Counsel LLC now owns 58,038 shares of the real estate investment trust’s stock valued at $7,754,000 after acquiring an additional 1,125 shares during the last quarter. Algert Global LLC lifted its stake in shares of Lamar Advertising by 0.4% in the 3rd quarter. Algert Global LLC now owns 71,910 shares of the real estate investment trust’s stock valued at $9,607,000 after purchasing an additional 320 shares during the period. Cerity Partners LLC boosted its position in shares of Lamar Advertising by 71.0% in the 3rd quarter. Cerity Partners LLC now owns 22,229 shares of the real estate investment trust’s stock worth $2,970,000 after purchasing an additional 9,232 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Lamar Advertising in the 3rd quarter worth $4,250,000. Institutional investors 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.