Wells Fargo & Company Lowers Lamar Advertising (NASDAQ:LAMR) Price Target to $119.00

Lamar Advertising (NASDAQ:LAMR) had its target price reduced by research analysts at Wells Fargo & Company from $122.00 to $119.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 1.45% from the company’s current price.

A number of other equities analysts also recently weighed in on LAMR. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $134.20.

Lamar Advertising Stock Up 2.0%

LAMR stock opened at $117.30 on Monday. The company has a market cap of $12.01 billion, a price-to-earnings ratio of 27.28 and a beta of 1.36. Lamar Advertising has a twelve month low of $99.84 and a twelve month high of $139.88. The business has a 50 day moving average price of $122.41 and a two-hundred day moving average price of $119.31. The company has a quick ratio of 0.57, a current ratio of 0.58 and a debt-to-equity ratio of 3.45.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The business had revenue of $579.31 million for the quarter, compared to the consensus estimate of $580.72 million. Analysts anticipate that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Lamar Advertising by 33.9% in the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 94 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Lamar Advertising during the first quarter worth approximately $28,000. Farther Finance Advisors LLC raised its position in shares of Lamar Advertising by 101.2% in the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 1,230 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Lamar Advertising in the first quarter valued at approximately $1,007,000. Finally, Fifth Third Bancorp grew its position in Lamar Advertising by 9.3% during the first quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust’s stock worth $635,000 after buying an additional 475 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

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.