Lamar Advertising Co. (NASDAQ:LAMR) traded down 4.9% during trading on Tuesday . The company traded as low as $61.86 and last traded at $62.83, with a volume of 958,693 shares trading hands. The stock had previously closed at $66.04.

A number of equities research analysts recently commented on the stock. MKM Partners increased their price objective on shares of Lamar Advertising from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, May 5th. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Gabelli cut shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a research note on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $66.38.

The firm has a 50-day moving average of $66.40 and a 200 day moving average of $61.72. The company has a market cap of $5.97 billion and a price-to-earnings ratio of 21.77.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $387.50 million for the quarter, compared to the consensus estimate of $384.09 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Lamar Advertising’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Lamar Advertising Co. will post $3.11 earnings per share for the current year.

In related news, Director Stephen P. Mumblow sold 10,000 shares of Lamar Advertising stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $63.50, for a total transaction of $635,000.00. Following the sale, the director now directly owns 30,970 shares in the company, valued at $1,966,595. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in LAMR. KBC Group NV raised its position in Lamar Advertising by 10.5% in the fourth quarter. KBC Group NV now owns 141,024 shares of the company’s stock worth $8,459,000 after buying an additional 13,386 shares during the last quarter. State of Tennessee Treasury Department raised its position in Lamar Advertising by 25.0% in the fourth quarter. State of Tennessee Treasury Department now owns 50,000 shares of the company’s stock worth $2,999,000 after buying an additional 10,000 shares during the last quarter. Jennison Associates LLC raised its position in Lamar Advertising by 24.0% in the fourth quarter. Jennison Associates LLC now owns 60,951 shares of the company’s stock worth $3,656,000 after buying an additional 11,815 shares during the last quarter. WBI Investments Inc. purchased a new position in Lamar Advertising during the fourth quarter worth about $13,828,000. Finally, Advisors Asset Management Inc. raised its position in Lamar Advertising by 52.7% in the fourth quarter. Advisors Asset Management Inc. now owns 32,938 shares of the company’s stock worth $1,976,000 after buying an additional 11,374 shares during the last quarter.

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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