JPMorgan Chase & Co. Issues Pessimistic Forecast for Lithia Motors (NYSE:LAD) Stock Price

Lithia Motors (NYSE:LAD) had its price objective lowered by JPMorgan Chase & Co. from $420.00 to $360.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. Wells Fargo & Company lifted their price target on Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Benchmark reiterated a “buy” rating and set a $400.00 target price on shares of Lithia Motors in a research note on Thursday, February 20th. StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Evercore ISI boosted their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Lithia Motors presently has an average rating of “Moderate Buy” and a consensus target price of $365.91.

Lithia Motors Stock Performance

NYSE LAD opened at $295.60 on Thursday. The company has a fifty day moving average price of $341.41 and a 200-day moving average price of $342.10. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 4.65 and a beta of 1.69. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors has a 1 year low of $243.00 and a 1 year high of $405.68.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. As a group, equities research analysts predict that Lithia Motors will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.53 per share. The ex-dividend date was Friday, March 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.72%. Lithia Motors’s dividend payout ratio is currently 7.14%.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 248 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the transaction, the director now owns 1,297 shares of the company’s stock, valued at approximately $377,219.48. The trade was a 16.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total transaction of $80,676.00. Following the completion of the sale, the director now owns 1,213 shares in the company, valued at $362,444.40. This represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,246 shares of company stock valued at $433,724 over the last three months. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAD. Norges Bank bought a new position in shares of Lithia Motors in the fourth quarter worth approximately $152,752,000. Egerton Capital UK LLP bought a new stake in Lithia Motors during the fourth quarter valued at approximately $113,250,000. Steadfast Capital Management LP grew its stake in Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock worth $164,524,000 after buying an additional 266,715 shares in the last quarter. Madison Investment Advisors LLC bought a new position in shares of Lithia Motors in the 4th quarter worth $91,190,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Lithia Motors during the 4th quarter valued at $46,505,000.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company’s Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.