Lithia Motors (NYSE:LAD) Given New $358.00 Price Target at Wells Fargo & Company

Lithia Motors (NYSE:LAD) had its target price raised by Wells Fargo & Company from $327.00 to $358.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on LAD. JPMorgan Chase & Co. raised their target price on shares of Lithia Motors from $320.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Barclays began coverage on Lithia Motors in a research note on Wednesday, November 12th. They issued an “overweight” rating and a $410.00 price target on the stock. Weiss Ratings lowered Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Benchmark reissued a “buy” rating on shares of Lithia Motors in a report on Thursday, October 23rd. Finally, Citigroup boosted their price target on Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a research note 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $392.20.

Lithia Motors Price Performance

NYSE LAD opened at $330.89 on Monday. Lithia Motors has a one year low of $262.10 and a one year high of $405.14. The stock has a 50-day moving average of $322.44 and a 200 day moving average of $321.47. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 9.58 and a beta of 1.18.

Lithia Motors (NYSE:LAD) last announced its quarterly 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. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter last year, the firm posted $8.21 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Lithia Motors will post 34.45 EPS for the current year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, November 7th. Lithia Motors’s dividend payout ratio (DPR) is presently 6.37%.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Congdon Stacy Loretz sold 75 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $360.00, for a total value of $27,000.00. Following the completion of the sale, the director owned 1,810 shares in the company, valued at approximately $651,600. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

A number of hedge funds have recently made changes to their positions in the business. AGP Franklin LLC raised its stake in Lithia Motors by 0.3% during the 3rd quarter. AGP Franklin LLC now owns 10,459 shares of the company’s stock valued at $3,305,000 after purchasing an additional 34 shares during the period. Arizona State Retirement System boosted its stake in Lithia Motors by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 7,702 shares of the company’s stock worth $2,434,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC grew its holdings in Lithia Motors by 9.2% during the 4th quarter. GAMMA Investing LLC now owns 403 shares of the company’s stock valued at $134,000 after buying an additional 34 shares in the last quarter. M&T Bank Corp raised its position in shares of Lithia Motors by 2.4% during the second quarter. M&T Bank Corp now owns 1,488 shares of the company’s stock valued at $503,000 after buying an additional 35 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Lithia Motors by 4.6% in the second quarter. Vident Advisory LLC now owns 842 shares of the company’s stock worth $285,000 after buying an additional 37 shares in the last quarter.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.