Citigroup Boosts Lamar Advertising (NASDAQ:LAMR) Price Target to $128.00

Lamar Advertising (NASDAQ:LAMR) had its price target increased by analysts at Citigroup from $121.76 to $128.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price target indicates a potential upside of 4.41% from the stock’s previous close.

LAMR has been the subject of a number of other reports. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company reduced their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. TD Cowen raised their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Trading Down 2.3 %

Lamar Advertising stock opened at $122.59 on Tuesday. Lamar Advertising has a one year low of $108.23 and a one year high of $139.88. The business’s fifty day moving average is $124.41 and its 200 day moving average is $127.71. The stock has a market capitalization of $12.55 billion, a PE ratio of 34.73 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The firm had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. On average, sell-side analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising in the third quarter worth $25,000. Concord Wealth Partners bought a new stake in shares of Lamar Advertising during the 3rd quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Lamar Advertising during the 4th quarter valued at $25,000. Finally, Assetmark Inc. boosted its holdings in Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

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.