Lithia Motors (NYSE:LAD) PT Lowered to $310.00

Lithia Motors (NYSE:LAD) had its target price cut by Craig Hallum from $350.00 to $310.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

LAD has been the topic of several other reports. Wells Fargo & Company reduced their price target on Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a research note on Thursday. The Goldman Sachs Group upped their price target on Lithia Motors from $300.00 to $334.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. StockNews.com cut Lithia Motors from a hold rating to a sell rating in a research note on Thursday, April 18th. Morgan Stanley upped their price target on Lithia Motors from $220.00 to $230.00 and gave the stock an underweight rating in a research note on Thursday, February 29th. Finally, Bank of America upped their price target on Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $320.82.

Lithia Motors Price Performance

LAD opened at $262.72 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.45 and a current ratio of 1.17. Lithia Motors has a 52-week low of $206.69 and a 52-week high of $331.96. The stock has a market capitalization of $7.23 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.58. The stock’s 50 day moving average price is $282.64 and its 200-day moving average price is $283.65.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.59%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same period last year, the firm posted $8.44 earnings per share. Lithia Motors’s quarterly revenue was up 22.7% on a year-over-year basis. On average, equities research analysts predict that Lithia Motors will post 33.17 EPS for the current year.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.81%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, May 9th. Lithia Motors’s payout ratio is 5.90%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bridges Investment Management Inc. lifted its holdings in shares of Lithia Motors by 40.3% during the first quarter. Bridges Investment Management Inc. now owns 73,498 shares of the company’s stock valued at $22,113,000 after purchasing an additional 21,130 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Lithia Motors during the first quarter valued at $641,000. Louisiana State Employees Retirement System lifted its holdings in shares of Lithia Motors by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock valued at $2,377,000 after purchasing an additional 200 shares in the last quarter. Wesbanco Bank Inc. bought a new position in shares of Lithia Motors during the first quarter valued at $975,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Lithia Motors by 98.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,059 shares of the company’s stock valued at $3,026,000 after purchasing an additional 4,999 shares in 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.