Lamar Advertising Company (NASDAQ:LAMR) Stock Rated “Hold” by Wall Street Brokerages

Shares of Lamar Advertising Company (NASDAQ:LAMR) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $159.14.

A number of equities research analysts recently commented on LAMR shares. Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a report on Wednesday, August 19th. Cfra downgraded shares of Lamar Advertising from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Lamar Advertising from $156.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. Morgan Stanley set a $170.00 target price on Lamar Advertising in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $160.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th.

Insider Buying and Selling

In other news, Director Thomas V. Reifenheiser sold 8,099 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $149.03, for a total transaction of $1,206,993.97. Following the completion of the sale, the director directly owned 36,387 shares in the company, valued at approximately $5,422,754.61. This represents a 18.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jay Johnson sold 7,600 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $156.92, for a total value of $1,192,592.00. The SEC filing for this sale provides additional information. Corporate insiders own 15.24% of the company’s stock.

Institutional Investors Weigh In On Lamar Advertising

Large investors have recently bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in Lamar Advertising by 49.7% in the first quarter. Quantinno Capital Management LP now owns 677,202 shares of the real estate investment trust’s stock valued at $85,774,000 after buying an additional 224,775 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Lamar Advertising in the second quarter worth approximately $26,469,000. Public Employees Retirement System of Ohio acquired a new stake in Lamar Advertising during the 2nd quarter valued at approximately $20,052,000. Adelante Capital Management LLC bought a new position in Lamar Advertising during the 2nd quarter worth approximately $19,122,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Lamar Advertising in the 1st quarter worth approximately $12,440,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Trading Down 0.5%

LAMR traded down $0.78 during mid-day trading on Wednesday, hitting $162.62. The stock had a trading volume of 725,142 shares, compared to its average volume of 597,233. The stock’s fifty day simple moving average is $150.21 and its 200-day simple moving average is $145.65. The company has a debt-to-equity ratio of 3.16, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of 28.68 and a beta of 1.23. Lamar Advertising has a 1-year low of $122.31 and a 1-year high of $166.33.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, September 21st. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.60. Lamar Advertising’s dividend payout ratio (DPR) is currently 116.40%.

Lamar Advertising Company Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.