Lithia Motors (NYSE:LAD) Price Target Raised to $500.00 at Evercore ISI

Lithia Motors (NYSE:LAD) had its price objective increased by Evercore ISI from $440.00 to $500.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also weighed in on LAD. Weiss Ratings lowered shares of Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of Lithia Motors from $317.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Barclays initiated coverage on Lithia Motors in a research note on Wednesday, November 12th. They set an “overweight” rating and a $410.00 price objective on the stock. Benchmark reissued a “buy” rating on shares of Lithia Motors in a report on Thursday, October 23rd. Finally, Citigroup increased their price objective on shares of Lithia Motors from $385.00 to $399.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lithia Motors has a consensus rating of “Moderate Buy” and a consensus target price of $389.10.

Lithia Motors Price Performance

Shares of NYSE LAD opened at $305.07 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.30 and a debt-to-equity ratio of 1.35. Lithia Motors has a 52 week low of $262.10 and a 52 week high of $405.67. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.67 and a beta of 1.29. The company’s 50-day moving average price is $311.12 and its 200 day moving average price is $318.55.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $0.97. The firm had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.38 billion. Lithia Motors had a return on equity of 13.42% and a net margin of 2.39%.Lithia Motors’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.21 EPS. As a group, research analysts forecast that Lithia Motors will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Lithia Motors’s dividend payout ratio is 6.37%.

Lithia Motors announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 26th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Lithia Motors

Institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC bought a new position in shares of Lithia Motors in the 3rd quarter valued at approximately $26,000. Bessemer Group Inc. lifted its holdings in shares of Lithia Motors by 114.6% during the 2nd quarter. Bessemer Group Inc. now owns 88 shares of the company’s stock worth $29,000 after acquiring an additional 47 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Lithia Motors by 1,383.3% in the 2nd 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. Eastern Bank acquired a new stake in shares of Lithia Motors in the 3rd quarter valued at $31,000. Finally, Root Financial Partners LLC acquired a new position in shares of Lithia Motors in the 3rd quarter worth approximately $31,000.

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.