Lamar Advertising (NASDAQ:LAMR) Stock Position Lifted by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co lifted its holdings in Lamar Advertising (NASDAQ:LAMR) by 13.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,093 shares of the real estate investment trust’s stock after purchasing an additional 252 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Lamar Advertising were worth $250,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of Lamar Advertising during the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Lamar Advertising during the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising during the second quarter valued at approximately $30,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Lamar Advertising in the 4th quarter valued at approximately $30,000. Finally, Sound Income Strategies LLC increased its stake in Lamar Advertising by 85.8% in the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 145 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR stock remained flat at $119.31 during mid-day trading on Thursday. 231,970 shares of the stock were exchanged, compared to its average volume of 409,047. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $123.25. The company has a market capitalization of $12.20 billion, a P/E ratio of 24.50 and a beta of 1.52. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s fifty day moving average is $117.77 and its 200-day moving average is $115.77.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.90 EPS. Sell-side analysts anticipate that Lamar Advertising will post 7.69 EPS for the current year.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several analyst reports. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Thursday, July 11th. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, May 31st. Finally, TD Cowen increased their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Lamar Advertising presently has an average rating of “Hold” and an average price target of $123.25.

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.