Lamar Advertising Company Class A (LAMR)

Lamar Advertising Co. reported strong Q3 and Q2 earnings, beating consensus estimates, although the stock performance varied. Analyst ratings have been updated, with Citigroup upgrading its view to a "Buy" and raising its price target to $145, while JPMorgan Chase & Co. maintained a "Neutral" rating and upped its price objective to $128. Lamar completed a $150 million share repurchase. News of Mubadala Capital exploring a potential acquisition of Clear Channel Outdoor Holdings also led to gains in Lamar Advertising stock.

Demand for Lamar Advertising Co.'s services is influenced by seasonality, weather, and spending patterns, leading to variability in revenue. The business benefits from event-driven tailwinds, such as elections and the FIFA World Cup. Local and regional accounts constitute nearly 80% of Lamar's business and tend to demonstrate more resilience.

Lamar Advertising Co. operates as a REIT, specializing in out-of-home advertising solutions. The company rents space for advertising on traditional and digital billboards, logo signs, transit advertising, and airport advertising. Lamar has one of the largest networks of digital billboards in the United States and offers design services.

Lamar Advertising Co. has a presence across 45 states in the United States and Canada. The company owns and operates approximately 160,400 billboard advertising displays and has over 360,000 to 363,000 displays in total across North America. Lamar maintains over 200 offices throughout the U.S. and Canada.

Lamar Advertising Co. was recognized as a "Best Company to Work For" by U.S. News & World Report, citing exceptional pay, work-life balance, stability, workplace benefits, and professional development.

Institutional investors hold approximately 87.73% to 93.59% of Lamar Advertising Co.'s stock, with major shareholders including Vanguard Group Inc., BlackRock, Inc., Janus Henderson Group Plc, Fmr Llc, and State Street Corp. Individual investors hold around 11.46% to 16.82% of the stock.