Lamar Advertising (NASDAQ:LAMR) Downgraded by StockNews.com to “Hold”

Lamar Advertising (NASDAQ:LAMR) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Morgan Stanley dropped their price objective on Lamar Advertising from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th.

Lamar Advertising Stock Down 1.2 %

Shares of NASDAQ:LAMR traded down $1.01 on Monday, hitting $84.49. 492,870 shares of the company traded hands, compared to its average volume of 429,695. Lamar Advertising has a 52 week low of $81.10 and a 52 week high of $111.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.71. The stock has a 50 day simple moving average of $92.55 and a 200-day simple moving average of $95.63. The company has a market cap of $8.61 billion, a PE ratio of 20.56 and a beta of 1.39.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. Lamar Advertising had a return on equity of 34.91% and a net margin of 20.19%. The firm had revenue of $541.10 million during the quarter, compared to the consensus estimate of $535.00 million. During the same period last year, the company earned $1.94 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis.

Institutional Investors Weigh In On Lamar Advertising

Several institutional investors have recently modified their holdings of LAMR. Farther Finance Advisors LLC boosted its position in Lamar Advertising by 243.9% in the second quarter. Farther Finance Advisors LLC now owns 282 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. ProVise Management Group LLC boosted its position in Lamar Advertising by 23.6% in the second quarter. ProVise Management Group LLC now owns 23,792 shares of the real estate investment trust’s stock worth $2,361,000 after purchasing an additional 4,536 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Lamar Advertising by 10.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 15,410 shares of the real estate investment trust’s stock worth $1,529,000 after purchasing an additional 1,436 shares during the last quarter. SWS Partners boosted its position in Lamar Advertising by 9.2% in the second quarter. SWS Partners now owns 19,704 shares of the real estate investment trust’s stock worth $1,955,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Stansberry Asset Management LLC boosted its position in Lamar Advertising by 4.0% in the second quarter. Stansberry Asset Management LLC now owns 22,169 shares of the real estate investment trust’s stock worth $2,200,000 after purchasing an additional 846 shares during the last quarter. 79.80% of the stock is owned by hedge funds and other institutional investors.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in North America. It operates approximately 363,000 displays across the United States and Canada. It offers advertisers a range of billboard, interstate logo, transit, and airport advertising formats helping local businesses and national brands.