Lithia Motors (NYSE:LAD) PT Lowered to $310.00

Lithia Motors (NYSE:LAD) had its target price lowered by Craig Hallum from $350.00 to $310.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently issued reports on the company. StockNews.com downgraded Lithia Motors from a hold rating to a sell rating in a research note on Thursday, April 18th. Morgan Stanley upped their price objective on Lithia Motors from $220.00 to $230.00 and gave the company an underweight rating in a research note on Thursday, February 29th. Stephens reaffirmed an overweight rating and issued a $375.00 price objective on shares of Lithia Motors in a research note on Wednesday, February 14th. Wells Fargo & Company decreased their target price on shares of Lithia Motors from $290.00 to $248.00 and set an equal weight rating for the company in a research report on Thursday. Finally, Guggenheim decreased their target price on shares of Lithia Motors from $320.00 to $297.00 and set a buy rating for the company in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $320.82.

Lithia Motors Stock Up 1.9 %

LAD stock opened at $262.72 on Thursday. The stock has a market capitalization of $7.23 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.58. The company has a current ratio of 1.17, a quick ratio of 0.45 and a debt-to-equity ratio of 1.16. Lithia Motors has a 12 month low of $206.69 and a 12 month high of $331.96. The firm has a 50-day moving average price of $282.64 and a 200-day moving average price of $283.65.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.59%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the prior year, the company earned $8.44 EPS. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Lithia Motors will post 33.17 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, May 9th. Lithia Motors’s dividend payout ratio is presently 5.90%.

Insiders Place Their Bets

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $297.84, for a total transaction of $40,208.40. Following the transaction, the director now directly owns 1,662 shares in the company, valued at approximately $495,010.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

A number of institutional investors and hedge funds have recently modified their holdings of LAD. Allspring Global Investments Holdings LLC bought a new position in shares of Lithia Motors during the 3rd quarter worth approximately $32,000. Denali Advisors LLC lifted its holdings in shares of Lithia Motors by 5,050.0% in the 4th quarter. Denali Advisors LLC now owns 103 shares of the company’s stock worth $34,000 after purchasing an additional 101 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Lithia Motors by 509.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock worth $38,000 after purchasing an additional 107 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Lithia Motors in the 4th quarter worth $49,000. Finally, Rise Advisors LLC lifted its holdings in shares of Lithia Motors by 80.2% in the 1st quarter. Rise Advisors LLC now owns 191 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares in the last quarter.

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.