Lamar Advertising (NASDAQ:LAMR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.
LAMR has been the topic of several other research reports. BidaskClub cut shares of Lamar Advertising from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 19th. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Imperial Capital reaffirmed an “outperform” rating and issued a $88.00 price objective (down previously from $94.00) on shares of Lamar Advertising in a research note on Wednesday, January 23rd. Finally, MKM Partners lifted their price objective on shares of Lamar Advertising to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $78.50.
Lamar Advertising stock traded up $1.22 during trading hours on Wednesday, hitting $81.64. 15,116 shares of the company traded hands, compared to its average volume of 374,595. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 14.86 and a beta of 1.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.37. Lamar Advertising has a 1-year low of $64.25 and a 1-year high of $83.51.
In related news, CEO Sean E. Reilly sold 107,606 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $79.55, for a total transaction of $8,560,057.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith A. Istre sold 22,263 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $76.84, for a total transaction of $1,710,688.92. Following the sale, the chief financial officer now owns 135,185 shares of the company’s stock, valued at $10,387,615.40. The disclosure for this sale can be found here. Insiders sold a total of 179,869 shares of company stock worth $14,202,746 in the last ninety days. Corporate insiders own 15.19% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in Lamar Advertising by 169.5% in the first quarter. Parallel Advisors LLC now owns 318 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Tompkins Financial Corp lifted its stake in Lamar Advertising by 63.3% in the first quarter. Tompkins Financial Corp now owns 343 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 133 shares during the last quarter. Taylor Hoffman Wealth Management acquired a new stake in Lamar Advertising in the fourth quarter valued at approximately $26,000. Whittier Trust Co. lifted its stake in Lamar Advertising by 336.2% in the fourth quarter. Whittier Trust Co. now owns 458 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 353 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Lamar Advertising in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.
About Lamar Advertising
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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