Lithia Motors (NYSE:LAD) Price Target Cut to $248.00

Lithia Motors (NYSE:LAD) had its price target reduced by equities research analysts at Wells Fargo & Company from $290.00 to $248.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential downside of 5.60% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Bank of America lifted their target price on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Guggenheim decreased their target price on shares of Lithia Motors from $320.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Evercore ISI initiated coverage on shares of Lithia Motors in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $375.00 price target on shares of Lithia Motors in a report on Wednesday, February 14th. Finally, Morgan Stanley raised their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $320.82.

Lithia Motors Stock Performance

Lithia Motors stock opened at $262.72 on Thursday. The firm’s fifty day moving average price is $283.22 and its 200-day moving average price is $283.67. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.45 and a current ratio of 1.17. The stock has a market cap of $7.23 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 2.10 and a beta of 1.58. Lithia Motors has a fifty-two week low of $206.69 and a fifty-two week high of $331.96.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Lithia Motors had a return on equity of 15.59% and a net margin of 2.87%. Lithia Motors’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.44 EPS. On average, equities research analysts expect that Lithia Motors will post 34.78 earnings per share for the current fiscal year.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the transaction, the director now owns 1,662 shares in the company, valued at $495,010.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lithia Motors

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Lithia Motors by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock worth $929,679,000 after purchasing an additional 15,962 shares during the period. Canada Pension Plan Investment Board grew its holdings in Lithia Motors by 0.3% in the third quarter. Canada Pension Plan Investment Board now owns 678,611 shares of the company’s stock worth $200,414,000 after purchasing an additional 2,200 shares during the period. FMR LLC grew its holdings in Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after purchasing an additional 45,977 shares during the period. Norges Bank purchased a new stake in Lithia Motors in the fourth quarter worth about $123,976,000. Finally, Cadian Capital Management LP purchased a new stake in Lithia Motors in the fourth quarter worth about $105,370,000.

About Lithia Motors

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.