Lithia Motors (NYSE:LAD) Given New $383.00 Price Target at Citigroup

Lithia Motors (NYSE:LAD) had its price target boosted by Citigroup from $378.00 to $383.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently commented on LAD. The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 target price for the company. Wells Fargo & Company dropped their price target on Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. Bank of America increased their price objective on Lithia Motors from $430.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Guggenheim lowered their target price on Lithia Motors from $417.00 to $356.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price target on Lithia Motors from $335.00 to $315.00 and set an “overweight” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $376.60.

Lithia Motors Price Performance

LAD stock opened at $298.55 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $7.77 billion, a P/E ratio of 8.85, a PEG ratio of 0.44 and a beta of 1.30. The business has a 50 day simple moving average of $324.57 and a 200-day simple moving average of $322.00. Lithia Motors has a twelve month low of $255.32 and a twelve month high of $405.67.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, beating the consensus estimate of $9.78 by $0.46. The firm had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.56 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. As a group, equities analysts anticipate that Lithia Motors will post 34.45 EPS for the current year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.55 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.20 annualized dividend and a yield of 0.7%. Lithia Motors’s dividend payout ratio is presently 6.52%.

Insider Buying and Selling

In other news, Director Shauna Mcintyre sold 256 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director directly owned 1,376 shares of the company’s stock, valued at $403,236.80. This represents a 15.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in shares of Lithia Motors by 14.2% during the 4th quarter. LPL Financial LLC now owns 4,049 shares of the company’s stock worth $1,447,000 after acquiring an additional 503 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Lithia Motors by 30.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,580 shares of the company’s stock worth $565,000 after purchasing an additional 369 shares in the last quarter. Wellington Management Group LLP boosted its position in Lithia Motors by 9.7% during the fourth quarter. Wellington Management Group LLP now owns 10,528 shares of the company’s stock worth $3,763,000 after purchasing an additional 930 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Lithia Motors by 5.3% in the fourth quarter. Wells Fargo & Company MN now owns 30,685 shares of the company’s stock valued at $10,968,000 after purchasing an additional 1,546 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Lithia Motors by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 27,974 shares of the company’s stock valued at $9,999,000 after buying an additional 1,013 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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.