Lamar Advertising (NASDAQ:LAMR) Stock Dropped to Sell by Cfra

Lamar Advertising (NASDAQ:LAMR) was downgraded by analysts at Cfra from a “hold” rating to a “sell” rating in a report released on Wednesday, FinViz reports. They currently have a $145.00 price objective on the real estate investment trust’s stock. Cfra’s price target would indicate a potential downside of 10.84% from the stock’s previous close.

LAMR has been the topic of a number of other reports. Morgan Stanley set a $170.00 price objective on Lamar Advertising in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $160.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, November 6th. Wells Fargo & Company lifted their target price on Lamar Advertising from $156.00 to $158.00 and gave the stock an “equal weight” rating in a report on Friday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $159.14.

Lamar Advertising Stock Performance

NASDAQ:LAMR traded down $0.78 during mid-day trading on Wednesday, hitting $162.62. 724,867 shares of the stock were exchanged, compared to its average volume of 597,210. The stock has a market capitalization of $16.51 billion, a price-to-earnings ratio of 28.68 and a beta of 1.23. The firm’s 50-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 quick ratio of 0.59 and a current ratio of 0.59. Lamar Advertising has a fifty-two week low of $122.31 and a fifty-two week high of $166.33.

Insiders Place Their Bets

In related news, Director Thomas V. Reifenheiser sold 8,099 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were 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 owned 36,387 shares of the company’s stock, valued at $5,422,754.61. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jay Johnson sold 7,600 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $156.92, for a total transaction of $1,192,592.00. The SEC filing for this sale provides additional information. 15.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lamar Advertising

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in shares of Lamar Advertising during the 3rd quarter worth approximately $2,918,000. Private Wealth Asset Management LLC bought a new position in Lamar Advertising in the third quarter valued at approximately $414,000. Private Advisor Group LLC increased its stake in Lamar Advertising by 280.9% in the third quarter. Private Advisor Group LLC now owns 14,306 shares of the real estate investment trust’s stock valued at $2,062,000 after acquiring an additional 10,550 shares during the last quarter. Focus Advisor Solutions LLC increased its stake in Lamar Advertising by 123.8% in the third quarter. Focus Advisor Solutions LLC now owns 10,319 shares of the real estate investment trust’s stock valued at $1,487,000 after acquiring an additional 5,708 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Lamar Advertising during the third quarter valued at approximately $381,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

About Lamar Advertising

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.