Lamar Advertising (NASDAQ:LAMR) Given New $161.00 Price Target at JPMorgan Chase & Co.

Lamar Advertising (NASDAQ:LAMR) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $160.00 to $161.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 3.21% from the company’s current price.

A number of other research analysts have also recently issued reports on LAMR. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and raised their price objective for the company from $145.00 to $160.00 in a research note on Friday, July 10th. Wells Fargo & Company boosted their target price on Lamar Advertising from $156.00 to $158.00 and gave the company an “equal weight” rating in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a report on Wednesday, August 19th. Finally, Morgan Stanley set a $170.00 price target on Lamar Advertising in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $161.50.

Lamar Advertising Stock Performance

LAMR stock opened at $155.99 on Friday. The company has a market capitalization of $15.84 billion, a PE ratio of 27.51 and a beta of 1.23. 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 one year low of $120.54 and a one year high of $166.33. The company’s 50 day moving average price is $149.76 and its two-hundred day moving average price is $145.35.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.58. The company had revenue of $616.75 million during the quarter, compared to analysts’ expectations of $606.61 million. Lamar Advertising had a net margin of 24.36% and a return on equity of 57.12%. As a group, analysts predict that Lamar Advertising will post 8.40 earnings per share for the current fiscal year.

Insider Activity

In other Lamar Advertising news, Director Thomas Reifenheiser sold 8,099 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $149.03, for a total value of $1,206,993.97. Following the transaction, the director owned 36,387 shares in the company, valued at approximately $5,422,754.61. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.24% of the company’s stock.

Institutional Trading of Lamar Advertising

Several large investors have recently modified their holdings of LAMR. Trillium Asset Management LLC raised its holdings in Lamar Advertising by 0.5% in the third quarter. Trillium Asset Management LLC now owns 54,114 shares of the real estate investment trust’s stock worth $7,798,000 after buying an additional 271 shares during the last quarter. Ibex Wealth Advisors lifted its stake in shares of Lamar Advertising by 3.7% in the third quarter. Ibex Wealth Advisors now owns 64,433 shares of the real estate investment trust’s stock worth $9,285,000 after buying an additional 2,284 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Lamar Advertising by 24.6% during the third quarter. Allworth Financial LP now owns 2,602 shares of the real estate investment trust’s stock valued at $406,000 after buying an additional 513 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Lamar Advertising by 116.3% during the third quarter. Russell Investments Group Ltd. now owns 138,653 shares of the real estate investment trust’s stock valued at $19,983,000 after buying an additional 74,539 shares during the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in shares of Lamar Advertising during the third quarter valued at approximately $58,000. 93.78% of the stock is owned by institutional investors.

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.

Lamar is led by Chief Executive Officer Sean Reilly.