Lamar Advertising (NASDAQ:LAMR) Stake Lessened by Fmr LLC

Fmr LLC trimmed its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,981,664 shares of the real estate investment trust’s stock after selling 94,274 shares during the quarter. Fmr LLC’s holdings in Lamar Advertising were worth $665,550,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Whittier Trust Co. raised its stake in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 130 shares in the last quarter. Concord Wealth Partners acquired a new stake in Lamar Advertising during the third quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new position in Lamar Advertising during the 2nd quarter worth approximately $30,000. Finally, Assetmark Inc. grew its position in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, TD Cowen increased their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Performance

LAMR stock opened at $133.62 on Friday. The stock’s fifty day moving average is $132.61 and its two-hundred day moving average is $124.15. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 26.72 and a beta of 1.52. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 1 year low of $97.99 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data 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). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. During the same quarter in the prior year, the business earned $2.04 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts predict that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Profile

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.