Lamar Advertising (LAMR) Lifted to “Buy” at ValuEngine

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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.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.43). The company had revenue of $384.50 million for the quarter, compared to analyst estimates of $384.84 million. Lamar Advertising had a net margin of 18.76% and a return on equity of 28.12%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. Research analysts expect that Lamar Advertising will post 5.59 earnings per share for the current fiscal year.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

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