Shares of Lamar Advertising Co. (NASDAQ:LAMR) fell 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. The stock had previously closed at $66.04.

A number of research firms have recently commented on LAMR. Zacks Investment Research downgraded Lamar Advertising from a “hold” rating to a “sell” rating in a report on Friday, May 6th. MKM Partners upped their price objective on Lamar Advertising from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, May 5th. Finally, Gabelli downgraded Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a report on Thursday, July 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.38.

The stock’s 50 day moving average is $66.32 and its 200 day moving average is $61.77. The company has a market capitalization of $6.09 billion and a PE ratio of 22.21.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. During the same period in the prior year, the business posted $0.61 EPS. The firm earned $387.50 million during the quarter, compared to analyst estimates of $384.09 million. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts anticipate that Lamar Advertising Co. will post $3.09 earnings per share for the current year.

In related news, Director Stephen P. Mumblow sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $63.50, for a total value of $635,000.00. Following the completion of the transaction, the director now owns 30,970 shares of the company’s stock, valued at approximately $1,966,595. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Other institutional investors have recently bought and sold shares of the company. UBS Oconnor LLC raised its position in Lamar Advertising by 150.0% in the fourth quarter. UBS Oconnor LLC now owns 25,000 shares of the company’s stock worth $1,500,000 after buying an additional 15,000 shares in the last quarter. 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 in 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 in 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 in the last quarter. Finally, 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 in 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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