Lithia Motors (NYSE:LAD) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

Lithia Motors (NYSE:LAD) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $335.00 price target on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 14.06% from the company’s previous close.

Other analysts also recently issued reports about the company. Citigroup increased their price objective on Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Wells Fargo & Company reduced their price target on Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 12th. Barclays lowered their price objective on Lithia Motors from $390.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Evercore lifted their price objective on Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $386.00.

Lithia Motors Stock Performance

Lithia Motors stock opened at $293.71 on Friday. The business has a 50 day moving average of $329.25 and a 200-day moving average of $321.37. The company has a market capitalization of $7.12 billion, a P/E ratio of 9.14 and a beta of 1.20. Lithia Motors has a 1 year low of $262.10 and a 1 year high of $363.78. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.17 and a quick ratio of 0.26.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, February 11th. The company reported $6.74 EPS for the quarter, missing the consensus estimate of $8.09 by ($1.35). Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The business had revenue of $9.20 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business earned $7.79 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, equities 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 Congdon Stacy Loretz sold 75 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $360.00, for a total transaction of $27,000.00. Following the transaction, the director directly owned 1,810 shares of the company’s stock, valued at $651,600. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lithia Motors

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Lithia Motors by 13.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,474 shares of the company’s stock worth $2,487,000 after buying an additional 1,032 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Lithia Motors by 67.6% during the first quarter. Goldman Sachs Group Inc. now owns 113,346 shares of the company’s stock valued at $33,272,000 after acquiring an additional 45,716 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Lithia Motors by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,170 shares of the company’s stock worth $27,349,000 after purchasing an additional 13,407 shares during the period. CWM LLC lifted its holdings in shares of Lithia Motors by 79.7% in the 2nd quarter. CWM LLC now owns 381 shares of the company’s stock worth $129,000 after purchasing an additional 169 shares in the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of Lithia Motors by 27.9% in the 2nd quarter. Forum Financial Management LP now owns 881 shares of the company’s stock worth $298,000 after purchasing an additional 192 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.