Lamar Advertising (NASDAQ:LAMR) Price Target Lowered to $122.00 at JPMorgan Chase & Co.

Lamar Advertising (NASDAQ:LAMR) had its price target reduced by JPMorgan Chase & Co. from $125.00 to $122.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on the stock. Morgan Stanley lifted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Citigroup upgraded shares of Lamar Advertising from a “neutral” rating to a “buy” rating and lifted their target price for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $134.20.

Lamar Advertising Stock Up 3.6%

Shares of LAMR opened at $121.50 on Monday. The firm has a market cap of $12.44 billion, a PE ratio of 28.26 and a beta of 1.36. The company’s fifty day moving average is $122.41 and its two-hundred day moving average is $119.33. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. 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 announced its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. The company had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Institutional Investors Weigh In On Lamar Advertising

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its position in shares of Lamar Advertising by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 94 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Lamar Advertising during the 1st quarter valued at about $28,000. Farther Finance Advisors LLC grew its position in shares of Lamar Advertising by 101.2% during the 1st 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 during the last quarter. SG Americas Securities LLC bought a new stake in shares of Lamar Advertising during the 1st quarter valued at about $1,007,000. Finally, Fifth Third Bancorp grew its position in shares of Lamar Advertising by 9.3% during the 1st quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 475 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Company Profile

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.