Guggenheim Lowers Lithia Motors (NYSE:LAD) Price Target to $380.00

Lithia Motors (NYSE:LAD) had its target price decreased by analysts at Guggenheim from $383.00 to $380.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 26.32% from the stock’s previous close.

A number of other research firms have also recently commented on LAD. JPMorgan Chase & Co. cut their target price on Lithia Motors from $335.00 to $315.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. Wells Fargo & Company cut their target price on Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 30th. Citigroup upped their target price on Lithia Motors from $378.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Bank of America upped their target price on Lithia Motors from $430.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Finally, The Goldman Sachs Group assumed coverage on Lithia Motors in a research note on Tuesday, June 3rd. They set a “neutral” rating and a $340.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Lithia Motors has a consensus rating of “Moderate Buy” and a consensus price target of $379.00.

Lithia Motors Trading Up 2.8%

Shares of LAD stock opened at $300.83 on Monday. Lithia Motors has a 1 year low of $255.32 and a 1 year high of $405.67. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. The stock’s 50 day simple moving average is $322.51 and its two-hundred day simple moving average is $320.16. The company has a market cap of $7.71 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.30.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. The business had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.56 billion. Research analysts predict that Lithia Motors will post 34.45 earnings per share for the current year.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 256 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $293.05, for a total value of $75,020.80. Following the transaction, the director owned 1,376 shares of the company’s stock, valued at $403,236.80. This represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of Lithia Motors

A number of hedge funds have recently bought and sold shares of LAD. Bessemer Group Inc. lifted its holdings in Lithia Motors by 114.6% during the second quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock worth $29,000 after buying an additional 47 shares during the period. Hantz Financial Services Inc. lifted its holdings in Lithia Motors by 1,383.3% during the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock worth $30,000 after buying an additional 83 shares during the period. Parallel Advisors LLC lifted its holdings in Lithia Motors by 106.2% during the second quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 69 shares during the period. eCIO Inc. purchased a new stake in Lithia Motors during the first quarter worth $55,000. Finally, NBC Securities Inc. purchased a new stake in Lithia Motors during the first quarter worth $59,000.

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.