Lithia Motors (NYSE:LAD) Price Target Cut to $270.00

Lithia Motors (NYSE:LAD) had its price target reduced by analysts at JPMorgan Chase & Co. from $285.00 to $270.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 6.52% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Lithia Motors from $300.00 to $334.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Wells Fargo & Company dropped their price objective on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Craig Hallum decreased their target price on Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Morgan Stanley raised their target price on Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Finally, Guggenheim cut their price target on Lithia Motors from $320.00 to $297.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Lithia Motors presently has an average rating of “Hold” and an average target price of $318.55.

Lithia Motors Stock Up 0.9 %

Shares of Lithia Motors stock opened at $253.48 on Thursday. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 7.48, a P/E/G ratio of 2.32 and a beta of 1.59. The stock has a 50-day simple moving average of $279.52 and a 200-day simple moving average of $282.99. Lithia Motors has a 52-week low of $206.69 and a 52-week high of $331.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.44 EPS. On average, equities research analysts expect that Lithia Motors will post 32.24 earnings per share for the current fiscal year.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 138 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the sale, the director now owns 2,228 shares in the company, valued at $566,847.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lithia Motors

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in shares of Lithia Motors during the 1st quarter worth approximately $194,000. Daiwa Securities Group Inc. grew its holdings in Lithia Motors by 7.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,404 shares of the company’s stock worth $1,325,000 after acquiring an additional 320 shares during the period. Consolidated Planning Corp bought a new stake in shares of Lithia Motors during the 1st quarter valued at $244,000. Iridian Asset Management LLC CT lifted its stake in shares of Lithia Motors by 9.8% in the 1st quarter. Iridian Asset Management LLC CT now owns 68,837 shares of the company’s stock valued at $20,710,000 after purchasing an additional 6,171 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Lithia Motors by 34.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,114 shares of the company’s stock worth $335,000 after purchasing an additional 285 shares during the last quarter.

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.