Citigroup Cuts Lithia Motors (NYSE:LAD) Price Target to $366.00

Lithia Motors (NYSE:LAD) had its target price reduced by Citigroup from $399.00 to $366.00 in a research report report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered Lithia Motors from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Lithia Motors in a research report on Thursday, January 22nd. Wells Fargo & Company decreased their price objective on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Barclays lowered their price objective on shares of Lithia Motors from $390.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Finally, Bank of America started coverage on shares of Lithia Motors in a research note on Wednesday. They issued a “neutral” rating on the stock. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $382.33.

Lithia Motors Stock Performance

LAD stock opened at $259.89 on Thursday. The company has a quick ratio of 0.26, a current ratio of 1.17 and a debt-to-equity ratio of 1.46. The firm has a market cap of $6.08 billion, a PE ratio of 8.09, a P/E/G ratio of 0.59 and a beta of 1.20. The business has a 50 day moving average of $315.60 and a 200-day moving average of $319.56. Lithia Motors has a 12-month low of $256.98 and a 12-month high of $360.55.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $9.19 billion. During the same quarter last year, the business posted $7.79 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Lithia Motors will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, March 6th. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Lithia Motors’s dividend payout ratio is presently 6.85%.

Insiders Place Their Bets

In related news, Director Congdon Stacy Loretz sold 75 shares of Lithia Motors stock in a transaction dated 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 of the company’s stock, valued at approximately $651,600. This trade represents a 3.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in shares of Lithia Motors by 225.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 166 shares of the company’s stock valued at $55,000 after purchasing an additional 115 shares during the period. Arwa LLC bought a new position in Lithia Motors in the 4th quarter worth approximately $467,000. Aristides Capital LLC boosted its holdings in Lithia Motors by 4.6% in the 4th quarter. Aristides Capital LLC now owns 2,707 shares of the company’s stock worth $900,000 after buying an additional 120 shares during the period. River Road Asset Management LLC grew its stake in Lithia Motors by 33.6% in the 4th quarter. River Road Asset Management LLC now owns 742,677 shares of the company’s stock valued at $246,814,000 after buying an additional 186,628 shares in the last quarter. Finally, Dean Capital Management grew its stake in Lithia Motors by 3.2% in the 4th quarter. Dean Capital Management now owns 5,425 shares of the company’s stock valued at $1,803,000 after buying an additional 168 shares in the last quarter.

Lithia Motors Company Profile

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.