Lithia Motors (NYSE:LAD) PT Raised to $320.00

Lithia Motors (NYSE:LAD) had its price objective increased by analysts at Citigroup from $280.00 to $320.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential downside of 0.26% from the stock’s previous close.

LAD has been the subject of several other reports. The Goldman Sachs Group increased their price objective on Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Stephens started coverage on shares of Lithia Motors in a research report on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price target for the company. Guggenheim raised shares of Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price objective on the stock in a research report on Friday, August 9th. Bank of America increased their price objective on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Lithia Motors currently has an average rating of “Hold” and a consensus target price of $338.00.

Lithia Motors Trading Up 1.8 %

Shares of LAD stock opened at $320.83 on Friday. Lithia Motors has a 1 year low of $231.36 and a 1 year high of $331.96. The firm has a market capitalization of $8.79 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.30 and a beta of 1.64. The stock has a fifty day moving average of $284.70 and a two-hundred day moving average of $272.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19.

Lithia Motors (NYSE:LAD) last released its earnings results on Thursday, August 1st. The company reported $7.87 earnings per share for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. The firm had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.91 earnings per share. As a group, research analysts expect that Lithia Motors will post 28.78 EPS for the current year.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction that occurred 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 approximately $13,417,080.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 transaction of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares of the company’s stock, valued at $13,417,080.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sidney B. Deboer sold 10,777 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at approximately $9,754,677.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,021 shares of company stock worth $6,534,617. 1.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Lithia Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cadian Capital Management LP bought a new position in Lithia Motors in the 4th quarter valued at $105,370,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Lithia Motors by 14.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock worth $429,390,000 after buying an additional 217,867 shares during the period. Dimensional Fund Advisors LP lifted its position in Lithia Motors by 25.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock worth $256,621,000 after buying an additional 203,543 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of Lithia Motors by 118.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock valued at $40,609,000 after buying an additional 87,362 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Lithia Motors by 413.6% during the fourth quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock worth $21,450,000 after purchasing an additional 52,458 shares during the period.

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.