Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $160.00 at TD Cowen

Lamar Advertising (NASDAQ:LAMR - Get Free Report) had its target price raised by equities researchers at TD Cowen from $142.00 to $160.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. TD Cowen's target price suggests a potential upside of 23.04% from the company's previous close.

LAMR has been the topic of several other research reports. StockNews.com upgraded shares of Lamar Advertising from a "hold" rating to a "buy" rating in a report on Friday, October 18th. Morgan Stanley upped their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company began coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They set an "equal weight" rating and a $132.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $132.40.

Lamar Advertising Stock Up 1.1 %

NASDAQ:LAMR traded up $1.46 during midday trading on Monday, reaching $130.04. 673,874 shares of the stock traded hands, compared to its average volume of 405,563. The stock has a market capitalization of $13.30 billion, a PE ratio of 26.10 and a beta of 1.52. Lamar Advertising has a 12-month low of $91.20 and a 12-month high of $139.88. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. The business has a 50-day moving average of $131.75 and a two-hundred day moving average of $122.96.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The business had revenue of $564.10 million for the quarter, compared to analysts' expectations of $568.91 million. During the same quarter in the prior year, the company posted $2.04 EPS. The business's revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAMR. Blue Trust Inc. lifted its stake in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 151 shares during the period. Whittier Trust Co. raised its position in shares of Lamar Advertising by 144.4% in the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 130 shares during the period. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising during the 3rd quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising during the 2nd quarter valued at about $30,000. Finally, Assetmark Inc. increased its stake in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.