Jefferies Financial Group Initiates Coverage on Lithia Motors (NYSE:LAD)

Stock analysts at Jefferies Financial Group started coverage on shares of Lithia Motors (NYSE:LAD) in a report issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $400.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 17.27% from the stock’s current price.

A number of other brokerages also recently issued reports on LAD. Citigroup upped their price target on Lithia Motors from $378.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Wells Fargo & Company reduced 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 boosted their target price on Lithia Motors from $430.00 to $500.00 and gave the company a “buy” rating in a report on Monday, June 16th. 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 report on Tuesday, August 5th. Finally, The Goldman Sachs Group initiated coverage on Lithia Motors in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $380.91.

Lithia Motors Stock Performance

NYSE:LAD opened at $341.10 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. Lithia Motors has a 1 year low of $255.32 and a 1 year high of $405.67. The company has a market capitalization of $8.75 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.53 and a beta of 1.31. The business has a fifty day simple moving average of $320.73 and a two-hundred day simple moving average of $314.22.

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

Lithia Motors declared that its Board of Directors has initiated a share buyback program on Tuesday, August 26th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Shauna Mcintyre sold 256 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the sale, the director directly owned 1,376 shares in the company, valued at approximately $403,236.80. The trade was a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lithia Motors

Large investors have recently made changes to their positions in the business. Bessemer Group Inc. grew its stake in Lithia Motors by 114.6% in the 2nd quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock worth $29,000 after buying an additional 47 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Lithia Motors by 1,383.3% during the second quarter. Hantz Financial Services Inc. now owns 89 shares of the company’s stock valued at $30,000 after purchasing an additional 83 shares during the period. Parallel Advisors LLC increased its position in Lithia Motors by 106.2% in the second quarter. Parallel Advisors LLC now owns 134 shares of the company’s stock worth $45,000 after buying an additional 69 shares in the last quarter. eCIO Inc. purchased a new stake in Lithia Motors during the 1st quarter valued at approximately $55,000. Finally, State of Wyoming purchased a new stake in shares of Lithia Motors in the second quarter worth about $67,000.

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.