Wells Fargo & Company Initiates Coverage on Lamar Advertising (NASDAQ:LAMR)

Equities research analysts at Wells Fargo & Company assumed coverage on shares of Lamar Advertising (NASDAQ:LAMR) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating and a $132.00 price target on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 1.15% from the stock’s previous close.

LAMR has been the subject of several other research reports. JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Citigroup cut shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research report on Thursday, July 11th. Finally, TD Cowen lifted their price target on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.00.

Lamar Advertising Stock Up 1.5 %

LAMR opened at $133.54 on Thursday. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $134.09. The business has a 50 day moving average of $121.49 and a 200-day moving average of $118.44. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 27.42 and a beta of 1.52. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share 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 42.18% and a net margin of 23.34%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.90 earnings per share. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Lamar Advertising

Several institutional investors have recently modified their holdings of LAMR. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Lamar Advertising in the 1st quarter valued at $25,000. Whittier Trust Co. increased its holdings 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 in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Lamar Advertising during the first quarter worth about $27,000. MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising during the 2nd quarter valued at about $30,000. Finally, Quarry LP lifted its holdings in shares of Lamar Advertising by 70.4% during the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 133 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.