Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $161.00

Lamar Advertising (NASDAQ:LAMR) had its price target hoisted by JPMorgan Chase & Co. from $160.00 to $161.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

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

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $155.99 on Friday. Lamar Advertising has a 12 month low of $120.54 and a 12 month high of $166.33. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.16. The company’s fifty day simple moving average is $149.76 and its 200 day simple moving average is $145.35. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 27.51 and a beta of 1.23.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $1.58 EPS for the quarter, meeting the consensus estimate of $1.58. The business had revenue of $616.75 million for 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, research analysts forecast that Lamar Advertising will post 8.40 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 4.2%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Monday, September 21st. Lamar Advertising’s payout ratio is 120.44%.

Insider Transactions at Lamar Advertising

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 transaction of $1,206,993.97. Following the sale, the director directly owned 36,387 shares of the company’s stock, valued at $5,422,754.61. The trade was a 18.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 15.24% of the company’s stock.

Hedge Funds Weigh In On Lamar Advertising

Several hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP grew its position in shares of Lamar Advertising by 49.7% in the 1st quarter. Quantinno Capital Management LP now owns 677,202 shares of the real estate investment trust’s stock valued at $85,774,000 after acquiring an additional 224,775 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Lamar Advertising during the 2nd quarter worth about $26,469,000. Public Employees Retirement System of Ohio bought a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $20,052,000. Adelante Capital Management LLC bought a new stake in shares of Lamar Advertising in the 2nd quarter valued at about $19,122,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Lamar Advertising in the 1st quarter valued at about $12,440,000. Institutional investors own 93.78% of the company’s stock.

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.

Lamar is led by Chief Executive Officer Sean Reilly.