Lamar Advertising (LAMR) Price Target Raised to $70.00 at Morgan Stanley

Lamar Advertising (NASDAQ:LAMR) had its target price lifted by equities researchers at Morgan Stanley from $68.00 to $70.00 in a note issued to investors on Friday. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price indicates a potential upside of 5.09% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Citigroup cut shares of Lamar Advertising from a “neutral” rating to a “sell” rating and set a $68.00 price target for the company. in a report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Lamar Advertising has an average rating of “Hold” and an average price target of $72.25.

Shares of Lamar Advertising (NASDAQ LAMR) traded up $0.69 during midday trading on Friday, reaching $66.61. 954,966 shares of the company were exchanged, compared to its average volume of 593,456. Lamar Advertising has a fifty-two week low of $62.45 and a fifty-two week high of $79.17. The company has a market capitalization of $6,686.42, a P/E ratio of 20.73, a PEG ratio of 4.41 and a beta of 1.02. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.55 and a quick ratio of 1.55.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.34). The company had revenue of $399.30 million during the quarter, compared to analyst estimates of $392.10 million. Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. 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 sale, the director now directly owns 11,031 shares in the company, valued at $864,058.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of LAMR. FMR LLC grew its holdings in shares of Lamar Advertising by 22.7% during the second quarter. FMR LLC now owns 923,416 shares of the real estate investment trust’s stock valued at $67,936,000 after buying an additional 171,001 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Lamar Advertising by 22.9% during the second quarter. Advisor Group Inc. now owns 4,029 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 752 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Lamar Advertising by 2.7% during the second quarter. Parametric Portfolio Associates LLC now owns 120,632 shares of the real estate investment trust’s stock valued at $8,875,000 after buying an additional 3,206 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lamar Advertising by 2,271.1% during the second quarter. Dimensional Fund Advisors LP now owns 216,318 shares of the real estate investment trust’s stock valued at $15,914,000 after buying an additional 207,195 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Lamar Advertising by 29.9% during the second quarter. Voya Investment Management LLC now owns 42,815 shares of the real estate investment trust’s stock valued at $3,150,000 after buying an additional 9,857 shares during the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Lamar Advertising (LAMR) Price Target Raised to $70.00 at Morgan Stanley” was originally reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/02/09/lamar-advertising-lamr-price-target-raised-to-70-00-at-morgan-stanley.html.

About Lamar Advertising

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.

Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply