TD Cowen Issues Positive Forecast for Lamar Advertising (NASDAQ:LAMR) Stock Price

Lamar Advertising (NASDAQ:LAMR) had its price target raised by stock analysts at TD Cowen from $142.00 to $160.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. TD Cowen’s target price would indicate a potential upside of 24.09% from the stock’s current price.

Several other research analysts also recently commented on LAMR. Wells Fargo & Company assumed coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price objective for the company. Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $128.94 on Monday. Lamar Advertising has a 52 week low of $91.20 and a 52 week high of $139.88. The company’s 50 day moving average price is $131.84 and its two-hundred day moving average price is $123.08. The stock has a market cap of $13.19 billion, a P/E ratio of 25.79 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. Lamar Advertising’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS. On average, equities analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Lamar Advertising

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC boosted its position in shares of Lamar Advertising by 2.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,744 shares of the real estate investment trust’s stock valued at $500,000 after acquiring an additional 80 shares during the last quarter. Private Advisor Group LLC raised its stake in Lamar Advertising by 0.7% in the third quarter. Private Advisor Group LLC now owns 11,798 shares of the real estate investment trust’s stock valued at $1,576,000 after purchasing an additional 82 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its position in Lamar Advertising by 6.6% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 84 shares during the last quarter. CIBC Asset Management Inc grew its stake in Lamar Advertising by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,552 shares of the real estate investment trust’s stock worth $341,000 after buying an additional 85 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Lamar Advertising by 1.0% in the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock worth $1,329,000 after buying an additional 97 shares during the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.