Lamar Advertising (NASDAQ:LAMR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Shares of Lamar have outperformed its industry, over the past year. Moreover, the stock has seen the Zacks Consensus Estimate for 2017 funds from operations (FFO) per share remaining unchanged in a months’ time. Notably, Lamar’s strong national presence, tenants from diverse industries and valuable permits augur well for its growth. Moreover, the company’s strategy to focus on portfolio upgradation and expansion is expected to drive long-term profitability. Nonetheless, the gloomy environment in the national advertising market remains a concern for the company. Further, high investment expenditures for acquisitions are likely to take a toll on Lamar’s balance sheet.”

Several other research analysts also recently commented on the stock. Citigroup downgraded shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price objective for the company. in a report on Wednesday, December 20th. BidaskClub raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Morgan Stanley cut their price objective on shares of Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, September 18th. Finally, ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $73.40.

Lamar Advertising (LAMR) traded up $1.63 on Tuesday, reaching $73.24. 609,300 shares of the company traded hands, compared to its average volume of 507,320. The company has a market cap of $6,150.00, a P/E ratio of 23.18, a PEG ratio of 4.64 and a beta of 1.15. Lamar Advertising has a 52 week low of $62.45 and a 52 week high of $79.17. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.55 and a current ratio of 1.55.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.34). The business had revenue of $399.30 million during the quarter, compared to the consensus estimate of $392.10 million. Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. equities analysts anticipate that Lamar Advertising will post 4.84 earnings per share for the current year.

In other Lamar Advertising news, Director Stephen P. Mumblow sold 4,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $78.33, for a total value of $313,320.00. Following the completion of the transaction, the director now directly owns 11,031 shares of the company’s stock, valued at approximately $864,058.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.70% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. State of Tennessee Treasury Department lifted its holdings in shares of Lamar Advertising by 25.0% during the 3rd quarter. State of Tennessee Treasury Department now owns 50,000 shares of the real estate investment trust’s stock worth $3,427,000 after acquiring an additional 10,000 shares during the last quarter. Beacon Investment Advisory Services Inc. bought a new stake in shares of Lamar Advertising during the 3rd quarter worth $761,000. State Street Corp lifted its holdings in shares of Lamar Advertising by 2.7% during the 2nd quarter. State Street Corp now owns 2,225,264 shares of the real estate investment trust’s stock worth $163,707,000 after acquiring an additional 58,453 shares during the last quarter. Csenge Advisory Group bought a new stake in shares of Lamar Advertising during the 3rd quarter worth $721,000. Finally, Nationwide Fund Advisors lifted its holdings in shares of Lamar Advertising by 5.9% during the 3rd quarter. Nationwide Fund Advisors now owns 303,871 shares of the real estate investment trust’s stock worth $20,824,000 after acquiring an additional 16,993 shares during the last quarter. 84.35% of the stock is 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.

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