Lithia Motors (NYSE:LAD) Price Target Cut to $297.00 by Analysts at Guggenheim

Lithia Motors (NYSE:LAD) had its target price trimmed by Guggenheim from $320.00 to $297.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also commented on the company. The Goldman Sachs Group upped their target price on Lithia Motors from $300.00 to $334.00 and gave the company a neutral rating in a report on Thursday, February 15th. StockNews.com raised Lithia Motors from a sell rating to a hold rating in a report on Thursday, April 4th. Wells Fargo & Company increased their price objective on Lithia Motors from $298.00 to $315.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. Bank of America increased their price objective on Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Finally, Morgan Stanley increased their price objective on Lithia Motors from $220.00 to $230.00 and gave the stock an underweight rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $334.60.

Lithia Motors Trading Up 0.3 %

Shares of NYSE LAD opened at $261.20 on Wednesday. The stock’s 50 day moving average price is $288.43 and its two-hundred day moving average price is $284.45. Lithia Motors has a 52-week low of $205.97 and a 52-week high of $331.96. The stock has a market capitalization of $7.19 billion, a P/E ratio of 7.20, a PEG ratio of 2.17 and a beta of 1.58. The company has a quick ratio of 0.45, a current ratio of 1.41 and a debt-to-equity ratio of 1.15.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, February 14th. The company reported $8.24 EPS for the quarter, beating the consensus estimate of $8.11 by $0.13. The company had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.95 billion. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $9.05 earnings per share. On average, analysts anticipate that Lithia Motors will post 35.35 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.77%. Lithia Motors’s dividend payout ratio (DPR) is presently 5.51%.

Insider Activity

In other news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $297.84, for a total transaction of $40,208.40. Following the completion of the sale, the director now owns 1,662 shares in the company, valued at approximately $495,010.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

A number of hedge funds have recently modified their holdings of the business. Sendero Wealth Management LLC lifted its holdings in shares of Lithia Motors by 15.7% in the first quarter. Sendero Wealth Management LLC now owns 11,949 shares of the company’s stock valued at $3,595,000 after purchasing an additional 1,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lithia Motors by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,489 shares of the company’s stock valued at $749,000 after purchasing an additional 98 shares in the last quarter. Bridge City Capital LLC lifted its holdings in shares of Lithia Motors by 0.8% in the first quarter. Bridge City Capital LLC now owns 13,695 shares of the company’s stock valued at $4,120,000 after purchasing an additional 108 shares in the last quarter. BTC Capital Management Inc. purchased a new stake in shares of Lithia Motors in the first quarter valued at $230,000. Finally, Red Spruce Capital LLC lifted its holdings in shares of Lithia Motors by 6.0% in the first quarter. Red Spruce Capital LLC now owns 8,668 shares of the company’s stock valued at $2,608,000 after purchasing an additional 492 shares in the last quarter.

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.