JPMorgan Chase & Co. Trims Lithia Motors (NYSE:LAD) Target Price to $270.00

Lithia Motors (NYSE:LAD) had its price target decreased by JPMorgan Chase & Co. from $285.00 to $270.00 in a report released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on LAD. StockNews.com upgraded Lithia Motors from a sell rating to a hold rating in a report on Friday, April 26th. Craig Hallum decreased their target price on Lithia Motors from $350.00 to $310.00 and set a buy rating for the company in a research note on Thursday, April 25th. Guggenheim dropped their price target on Lithia Motors from $320.00 to $297.00 and set a buy rating on the stock in a research note on Wednesday, April 17th. Bank of America raised their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Evercore ISI initiated coverage on shares of Lithia Motors in a research report on Wednesday, January 17th. They set an outperform rating and a $400.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Lithia Motors currently has a consensus rating of Hold and an average target price of $318.55.

Lithia Motors Stock Performance

Shares of LAD stock opened at $253.48 on Thursday. The stock has a market capitalization of $6.98 billion, a PE ratio of 7.48, a PEG ratio of 2.31 and a beta of 1.59. The business’s 50 day simple moving average is $279.52 and its 200 day simple moving average is $283.17. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28. Lithia Motors has a one year low of $206.69 and a one year high of $331.96.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the firm posted $8.44 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, research analysts forecast that Lithia Motors will post 32.24 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, May 9th. Lithia Motors’s dividend payout ratio (DPR) is 6.26%.

Insider Activity

In related news, Director Shauna Mcintyre sold 138 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the sale, the director now owns 2,228 shares in the company, valued at approximately $566,847.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Several institutional investors have recently bought and sold shares of LAD. Mariner LLC grew its stake in shares of Lithia Motors by 4.1% in the 3rd quarter. Mariner LLC now owns 4,401 shares of the company’s stock worth $1,300,000 after acquiring an additional 174 shares in the last quarter. American Century Companies Inc. increased its stake in Lithia Motors by 33.7% in the 3rd quarter. American Century Companies Inc. now owns 35,164 shares of the company’s stock valued at $10,385,000 after buying an additional 8,862 shares during the last quarter. Citigroup Inc. lifted its position in shares of Lithia Motors by 95.6% during the 3rd quarter. Citigroup Inc. now owns 12,649 shares of the company’s stock worth $3,736,000 after buying an additional 6,181 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake 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 buying an additional 4,541 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of Lithia Motors in the third quarter valued at approximately $4,608,000.

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.