ValuEngine Lowers Lamar Advertising (NASDAQ:LAMR) to Hold

ValuEngine lowered shares of Lamar Advertising (NASDAQ:LAMR) from a buy rating to a hold rating in a report released on Thursday morning, ValuEngine reports.

Several other research firms also recently weighed in on LAMR. Zacks Investment Research downgraded shares of Lamar Advertising from a buy rating to a hold rating in a research note on Tuesday, April 23rd. BidaskClub downgraded shares of Lamar Advertising from a hold rating to a sell rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Lamar Advertising currently has an average rating of Hold and a consensus price target of $78.50.

LAMR stock traded down $1.32 during mid-day trading on Thursday, hitting $78.05. The company had a trading volume of 26,271 shares, compared to its average volume of 256,429. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 14.06 and a beta of 0.95. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.52 and a current ratio of 0.52. Lamar Advertising has a 12 month low of $64.51 and a 12 month high of $84.50. The firm’s fifty day moving average is $80.96.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.43). The business had revenue of $384.50 million during the quarter, compared to analysts’ expectations of $384.84 million. Lamar Advertising had a return on equity of 30.95% and a net margin of 20.68%. Lamar Advertising’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that Lamar Advertising will post 5.62 EPS for the current year.

In related news, CFO Keith A. Istre sold 16,294 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $80.28, for a total transaction of $1,308,082.32. Following the completion of the transaction, the chief financial officer now owns 118,991 shares of the company’s stock, valued at $9,552,597.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas V. Reifenheiser sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total transaction of $324,200.00. Following the transaction, the director now directly owns 38,708 shares of the company’s stock, valued at approximately $3,137,283.40. The disclosure for this sale can be found here. 15.19% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of LAMR. First Interstate Bank purchased a new position in Lamar Advertising in the 2nd quarter worth approximately $27,000. GWM Advisors LLC grew its stake in Lamar Advertising by 405.0% in the 2nd quarter. GWM Advisors LLC now owns 24,236 shares of the real estate investment trust’s stock worth $1,956,000 after buying an additional 19,437 shares in the last quarter. Institute for Wealth Management LLC. purchased a new position in Lamar Advertising in the 2nd quarter worth approximately $208,000. Qube Research & Technologies Ltd purchased a new position in Lamar Advertising in the 2nd quarter worth approximately $350,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Lamar Advertising in the 2nd quarter worth approximately $743,000. 81.08% of the stock is owned by institutional investors.

Lamar Advertising Company Profile

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

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