Lamar Advertising (NASDAQ:LAMR) was downgraded by Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $68.00 price objective on the real estate investment trust’s stock. Citigroup’s target price would suggest a potential downside of 8.81% from the stock’s current price.

A number of other brokerages have also recently weighed in on LAMR. Morgan Stanley dropped their price target on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Monday, September 18th. ValuEngine upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.00.

Shares of Lamar Advertising (NASDAQ:LAMR) traded down $1.48 during mid-day trading on Wednesday, hitting $74.57. The stock had a trading volume of 640,231 shares, compared to its average volume of 598,632. Lamar Advertising has a twelve month low of $62.45 and a twelve month high of $79.17. The stock has a market capitalization of $7,563.44, a PE ratio of 15.40, a P/E/G ratio of 5.29 and a beta of 1.16. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.34). Lamar Advertising had a net margin of 20.33% and a return on equity of 29.03%. The firm had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $392.10 million. During the same quarter in the prior year, the business earned $0.87 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. analysts forecast that Lamar Advertising will post 4.84 EPS for the current year.

In related news, Director Stephen P. Mumblow sold 4,000 shares of Lamar Advertising stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $78.33, for a total transaction of $313,320.00. Following the completion of the sale, the director now owns 11,031 shares in the company, valued at approximately $864,058.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 14.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LAMR. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Lamar Advertising by 0.8% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 8,980 shares of the real estate investment trust’s stock worth $634,000 after buying an additional 75 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Lamar Advertising by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,185 shares of the real estate investment trust’s stock worth $896,000 after buying an additional 86 shares during the last quarter. Aureus Asset Management LLC boosted its stake in Lamar Advertising by 1.6% in the 2nd quarter. Aureus Asset Management LLC now owns 6,005 shares of the real estate investment trust’s stock worth $442,000 after buying an additional 94 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in Lamar Advertising by 0.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 16,514 shares of the real estate investment trust’s stock worth $1,215,000 after buying an additional 110 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Lamar Advertising by 0.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 37,785 shares of the real estate investment trust’s stock worth $2,780,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 84.35% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Lamar Advertising (LAMR) Lowered to Sell at Citigroup” was reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.watchlistnews.com/citigroup-lowers-lamar-advertising-lamr-to-sell/1774325.html.

About Lamar Advertising

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.

Analyst Recommendations for Lamar Advertising (NASDAQ:LAMR)

Receive News & Ratings for Lamar Advertising Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lamar Advertising and related companies with MarketBeat.com's FREE daily email newsletter.