Lamar Advertising (NASDAQ:LAMR) Sets New 12-Month High Following Analyst Upgrade

Lamar Advertising Co (NASDAQ:LAMR) reached a new 52-week high on Thursday after Imperial Capital raised their price target on the stock from $86.00 to $91.00. Imperial Capital currently has an in-line rating on the stock. Lamar Advertising traded as high as $95.87 and last traded at $95.65, with a volume of 127253 shares. The stock had previously closed at $95.02.

Several other brokerages have also issued reports on LAMR. ValuEngine lowered Lamar Advertising from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. BidaskClub downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, February 7th. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $84.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Lamar Advertising currently has a consensus rating of “Hold” and a consensus target price of $88.00.

Several institutional investors have recently made changes to their positions in LAMR. Mine & Arao Wealth Creation & Management LLC. bought a new stake in shares of Lamar Advertising during the fourth quarter worth $26,000. CENTRAL TRUST Co acquired a new stake in shares of Lamar Advertising during the 3rd quarter valued at $28,000. Reilly Financial Advisors LLC acquired a new stake in shares of Lamar Advertising during the 4th quarter valued at $30,000. Kistler Tiffany Companies LLC grew its position in Lamar Advertising by 55.6% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 400 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 143 shares during the last quarter. Finally, Usca Ria LLC bought a new stake in Lamar Advertising during the 3rd quarter worth $36,000. 79.44% of the stock is currently owned by institutional investors.

The business has a fifty day simple moving average of $91.93 and a 200-day simple moving average of $83.90. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 26.27 and a beta of 1.00.

About Lamar Advertising (NASDAQ:LAMR)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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