Lithia Motors (NYSE:LAD) Price Target Cut to $299.00

Lithia Motors (NYSE:LAD) had its price objective lowered by Wells Fargo & Company from $302.00 to $299.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the company. Citigroup lifted their price objective on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Stephens assumed coverage on Lithia Motors in a research report on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price target on the stock. The Goldman Sachs Group increased their price objective on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley raised shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $225.00 to $310.00 in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lithia Motors currently has a consensus rating of “Hold” and an average target price of $337.70.

Lithia Motors Stock Down 0.5 %

Shares of Lithia Motors stock opened at $313.88 on Tuesday. Lithia Motors has a 12-month low of $231.36 and a 12-month high of $331.96. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. The stock has a 50 day moving average price of $295.45 and a two-hundred day moving average price of $273.59. The stock has a market capitalization of $8.60 billion, a P/E ratio of 9.27, a PEG ratio of 0.30 and a beta of 1.64.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.09 by $0.78. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.29 billion. Lithia Motors had a net margin of 2.52% and a return on equity of 13.84%. Lithia Motors’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.91 EPS. Equities analysts expect that Lithia Motors will post 28.74 earnings per share for the current year.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s dividend payout ratio is 6.26%.

Insider Transactions at Lithia Motors

In related news, Director Sidney B. Deboer sold 11,938 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now owns 46,129 shares of the company’s stock, valued at $13,417,080.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Sidney B. Deboer sold 11,938 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now owns 46,129 shares of the company’s stock, valued at $13,417,080.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the sale, the director now owns 35,352 shares in the company, valued at $9,754,677.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,021 shares of company stock valued at $6,534,617. Company insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of Lithia Motors by 1.3% during the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock worth $975,000 after acquiring an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Lithia Motors by 12.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company’s stock worth $116,000 after purchasing an additional 52 shares during the last quarter. Blue Trust Inc. raised its holdings in Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock worth $34,000 after purchasing an additional 61 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Lithia Motors by 13.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock valued at $167,000 after purchasing an additional 65 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Lithia Motors by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,628 shares of the company’s stock valued at $663,000 after purchasing an additional 72 shares during 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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.