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

Lithia Motors (NYSE:LAD) had its target price reduced by JPMorgan Chase & Co. from $285.00 to $270.00 in a research note released on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI began coverage on Lithia Motors in a research note on Wednesday, January 17th. They issued an outperform rating and a $400.00 target price on the stock. The Goldman Sachs Group increased their target price on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a neutral rating in a report on Thursday, February 15th. 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. Citigroup cut their price target on shares of Lithia Motors from $320.00 to $280.00 and set a neutral rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com upgraded Lithia Motors from a sell rating to a hold rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $318.55.

Lithia Motors Stock Up 0.9 %

Shares of LAD stock traded up $2.28 during trading hours on Thursday, hitting $253.48. 192,231 shares of the company were exchanged, compared to its average volume of 227,600. The company has a market capitalization of $6.98 billion, a PE ratio of 7.48, a PEG ratio of 2.32 and a beta of 1.59. Lithia Motors has a 52 week low of $206.69 and a 52 week high of $331.96. The business has a 50 day moving average of $279.52 and a two-hundred day moving average of $282.99. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results 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). The firm had revenue of $8.56 billion during 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 15.62%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $8.44 EPS. Analysts anticipate that Lithia Motors will post 32.24 earnings per share 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. Investors of record on Friday, May 10th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s dividend payout ratio (DPR) is presently 5.90%.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the transaction, the director now directly owns 2,228 shares in the company, valued at approximately $566,847.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

Several large investors have recently modified their holdings of LAD. FourThought Financial Partners LLC boosted its holdings in shares of Lithia Motors by 2.4% during the 4th quarter. FourThought Financial Partners LLC now owns 1,609 shares of the company’s stock worth $530,000 after buying an additional 37 shares during the period. Xponance Inc. boosted its holdings in shares of Lithia Motors by 1.1% during the fourth quarter. Xponance Inc. now owns 3,492 shares of the company’s stock worth $1,150,000 after acquiring an additional 38 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Lithia Motors by 32.0% during the third quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock worth $68,000 after acquiring an additional 56 shares during the period. Victory Capital Management Inc. grew its position in shares of Lithia Motors by 0.3% in the third quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock valued at $5,054,000 after purchasing an additional 59 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Lithia Motors by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock worth $3,510,000 after purchasing an additional 60 shares during the period.

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.