Wells Fargo & Company Cuts Lithia Motors (NYSE:LAD) Price Target to $248.00

Lithia Motors (NYSE:LAD) had its target price trimmed by Wells Fargo & Company from $290.00 to $248.00 in a report published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on LAD. The Goldman Sachs Group upped their target price on Lithia Motors from $300.00 to $334.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. StockNews.com lowered Lithia Motors from a hold rating to a sell rating in a research report on Thursday, April 18th. Bank of America upped their target price on Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Guggenheim dropped their target price on Lithia Motors from $320.00 to $297.00 and set a buy rating on the stock in a research report on Wednesday, April 17th. Finally, Stephens reaffirmed an overweight rating and issued a $375.00 target price on shares of Lithia Motors in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $320.82.

Lithia Motors Stock Up 1.9 %

NYSE:LAD opened at $262.72 on Thursday. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 2.22 and a beta of 1.58. Lithia Motors has a 1-year low of $206.69 and a 1-year high of $331.96. The company has a current ratio of 1.17, a quick ratio of 0.45 and a debt-to-equity ratio of 1.16. The business’s fifty day moving average price is $282.64 and its 200 day moving average price is $283.65.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing the consensus estimate of $7.85 by ($1.74). The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.59%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted $8.44 earnings per share. On average, sell-side analysts forecast that Lithia Motors will post 33.17 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

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

Insider Activity at Lithia Motors

In related 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 completion of the sale, the director now owns 1,662 shares in the company, valued at approximately $495,010.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.79% of the stock is owned by corporate insiders.

Institutional Trading of Lithia Motors

Hedge funds have recently added to or reduced their stakes in the business. Mariner LLC boosted its stake in Lithia Motors by 4.1% during the 3rd quarter. Mariner LLC now owns 4,401 shares of the company’s stock valued at $1,300,000 after purchasing an additional 174 shares during the period. American Century Companies Inc. lifted its position in shares of Lithia Motors by 33.7% in the 3rd quarter. American Century Companies Inc. now owns 35,164 shares of the company’s stock worth $10,385,000 after acquiring an additional 8,862 shares during the period. Citigroup Inc. lifted its position in shares of Lithia Motors by 95.6% in the 3rd quarter. Citigroup Inc. now owns 12,649 shares of the company’s stock worth $3,736,000 after acquiring an additional 6,181 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of Lithia Motors by 93.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 9,412 shares of the company’s stock worth $2,780,000 after acquiring an additional 4,541 shares during the period. Finally, Comerica Bank bought a new stake in shares of Lithia Motors in the 3rd quarter worth approximately $4,608,000.

Lithia Motors Company Profile

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.