Citigroup Downgrades Lamar Advertising (NASDAQ:LAMR) to Neutral

Lamar Advertising (NASDAQ:LAMR – Get Free Report) was downgraded by equity research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a price target of $122.00 on the real estate investment trust’s shares. Citigroup’s price target indicates a potential upside of 3.77% from the company’s previous close.

StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31.

Read our latest stock analysis on LAMR

Lamar Advertising shares down 0.8%

NASDAQ:LAMR stock opened at $117.57 on Thursday. The company’s 50 day moving average is $117.89, and its 200 day moving average is $113.11. The company has a current ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $122.22. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 24.14 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR – Get Free Report) last released its quarterly earnings data on Thursday, May 2. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by (-$0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The company had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. During the same period last year, the company reported earnings per share of $1.41. The company’s revenue for the quarter increased 5.7% year-over-year. Sell-side analysts are forecasting that Lamar Advertising will report earnings per share of $7.69 for the current fiscal year.

Internal Operations at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction on Friday, May 10. The shares were sold at an average price of $120.05, for a total transaction value of $2,040,850.00. Following the sale, the director now directly owns 32,178 shares of the company’s stock, valued at approximately $3,862,968.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website . Corporate insiders now own 14.98% of the stock.

Hedge funds weigh Lamar ad

Several institutional investors have recently added to or reduced their holdings in the company. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Lamar Advertising in the first quarter worth $25,000. Fidelis Capital Partners LLC bought a new position in Lamar Advertising in the first quarter worth approximately $27,000. Atlantic Edge Private Wealth Management LLC bought a new position in Lamar Advertising in the fourth quarter worth approximately $30,000. Sound Income Strategies LLC increased its holdings in shares of Lamar Advertising by 85.8% in the first quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Lamar Advertising by 70.4% in the fourth quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Company Profile

(Download the free report)

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

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