Lamar Advertising Co (LAMR) is Downgraded by Gabelli & Co to Hold, Price Target at $64

Lamar Advertising Co (LAMR) was Downgraded by Gabelli & Co to ” Hold” and the brokerage firm has set the Price Target at $64. Earlier the firm had a rating of “Buy ” on the company shares. Gabelli & Co advised their investors in a research report released on Jul 22, 2016.

Many Wall Street Analysts have commented on Lamar Advertising Co. Company shares were Reiterated by MKM Partners on May 5, 2016 to “Neutral”, Firm has raised the Price Target to $ 65 from a previous price target of $57 .

On the company’s financial health, Lamar Advertising Co reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.92. The company had revenue of $338.50 million for the quarter, compared to analysts expectations of $333.90 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Lamar Advertising Co closed down -0.05 points or -0.07% at $68.39 with 4,23,986 shares getting traded on Wednesday. Post opening the session at $68.62, the shares hit an intraday low of $68.1 and an intraday high of $68.75 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jun 20, 2016, Stephen P Mumblow (director) sold 10,000 shares at $63.50 per share price. According to the SEC, on May 10, 2016, Keith A Istre (Chief Financial Officer) sold 8,918 shares at $63.47 per share price. On Jan 22, 2016, Wendell Reilly (director) sold 18,075 shares at $60.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards buses shelters benches and logo plates. It operates three types of outdoor advertising displays: billboards logo signs and transit advertising displays. As of December 31 2012 the Company owned and operated over 144000 billboard advertising displays in 44 states Canada and Puerto Rico over 115000 logo advertising displays in 22 states and the province of Ontario Canada and operated over 34000 transit advertising displays in 15 states Canada and Puerto Rico. In August 2014 the Company acquired the assets of Marco Outdoor Advertising Inc.

Lamar Advertising Co

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