Wells Fargo & Company Issues Pessimistic Forecast for Lamar Advertising (NASDAQ:LAMR) Stock Price

Lamar Advertising (NASDAQ:LAMR) had its price objective lowered by research analysts at Wells Fargo & Company from $122.00 to $119.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 1.45% from the stock’s current price.

Several other brokerages have also issued reports on LAMR. Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $134.20.

Lamar Advertising Trading Up 2.0%

NASDAQ:LAMR opened at $117.30 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.57 and a debt-to-equity ratio of 3.45. Lamar Advertising has a 1-year low of $99.84 and a 1-year high of $139.88. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 27.28 and a beta of 1.36. The business’s 50-day moving average price is $122.41 and its two-hundred day moving average price is $119.31.

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. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The business had revenue of $579.31 million for the quarter, compared to the consensus estimate of $580.72 million. On average, equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LAMR. Cohen & Steers Inc. lifted its stake in Lamar Advertising by 453.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust’s stock valued at $323,900,000 after acquiring an additional 2,180,011 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Lamar Advertising by 426.0% in the first quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust’s stock valued at $74,340,000 after purchasing an additional 533,959 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Lamar Advertising by 27.8% in the second quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock valued at $284,577,000 after purchasing an additional 510,025 shares during the last quarter. Northern Trust Corp lifted its position in shares of Lamar Advertising by 50.5% in the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust’s stock worth $155,632,000 after purchasing an additional 428,744 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Lamar Advertising during the fourth quarter worth $48,023,000. 93.78% of the stock is 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.