Lamar Advertising (NASDAQ:LAMR) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Lamar Advertising (NASDAQ:LAMR) had its target price lifted by investment analysts at Morgan Stanley from $125.00 to $135.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price points to a potential upside of 4.70% from the company’s previous close.

LAMR has been the topic of several other reports. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company started coverage on Lamar Advertising in a research note on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. TD Cowen boosted their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $128.94 on Monday. Lamar Advertising has a 12 month low of $91.20 and a 12 month high of $139.88. The stock has a 50 day moving average of $131.84 and a 200-day moving average of $123.08. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $13.19 billion, a P/E ratio of 26.01 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.04 earnings per share. As a group, equities research analysts predict that Lamar Advertising will post 7.75 EPS for the current year.

Hedge Funds Weigh In On Lamar Advertising

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in Lamar Advertising by 25.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,628 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 535 shares in the last quarter. Empowered Funds LLC raised its position in shares of Lamar Advertising by 17.2% in the 1st quarter. Empowered Funds LLC now owns 13,115 shares of the real estate investment trust’s stock valued at $1,566,000 after buying an additional 1,929 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Lamar Advertising by 31.2% during the 1st quarter. Sei Investments Co. now owns 16,085 shares of the real estate investment trust’s stock worth $1,921,000 after acquiring an additional 3,829 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Lamar Advertising by 79.1% during the 1st quarter. Russell Investments Group Ltd. now owns 123,138 shares of the real estate investment trust’s stock worth $14,703,000 after acquiring an additional 54,390 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Lamar Advertising by 22.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,107 shares of the real estate investment trust’s stock worth $1,923,000 after acquiring an additional 2,912 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

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.