Lamar Advertising (NASDAQ:LAMR) was downgraded by stock analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They presently have a $68.00 price objective on the real estate investment trust’s stock. Citigroup’s price target indicates a potential downside of 8.66% from the stock’s current price.
Several other analysts have also recently weighed in on LAMR. BidaskClub cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Morgan Stanley lowered their price target on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Lamar Advertising currently has an average rating of “Hold” and an average target price of $73.40.
Shares of Lamar Advertising (LAMR) traded down $1.60 during midday trading on Wednesday, reaching $74.45. The company’s stock had a trading volume of 1,154,435 shares, compared to its average volume of 600,901. Lamar Advertising has a fifty-two week low of $62.45 and a fifty-two week high of $79.17. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23. The company has a market cap of $6,390.00, a P/E ratio of 15.40, a P/E/G ratio of 5.29 and a beta of 1.15.
In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $78.33, for a total value of $313,320.00. Following the sale, the director now owns 11,031 shares of the company’s stock, valued at approximately $864,058.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 14.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. San Francisco Sentry Investment Group CA purchased a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $164,000. Westpac Banking Corp purchased a new position in shares of Lamar Advertising during the 2nd quarter valued at about $176,000. Penserra Capital Management LLC raised its holdings in shares of Lamar Advertising by 9.5% during the 2nd quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 214 shares in the last quarter. Verity Asset Management Inc. purchased a new position in shares of Lamar Advertising during the 2nd quarter valued at about $204,000. Finally, Argent Trust Co purchased a new position in shares of Lamar Advertising during the 3rd quarter valued at about $207,000. 84.35% of the stock is currently owned by hedge funds and other institutional investors.
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Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
