Guggenheim Trims Lithia Motors (NYSE:LAD) Target Price to $297.00

Lithia Motors (NYSE:LAD) had its target price trimmed by Guggenheim from $320.00 to $297.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently weighed in on LAD. Evercore ISI started coverage on shares of Lithia Motors in a research report on Wednesday, January 17th. They issued an outperform rating and a $400.00 price objective for the company. Wells Fargo & Company upped their price objective on Lithia Motors from $298.00 to $315.00 and gave the stock an equal weight rating in a report on Thursday, February 15th. Morgan Stanley lifted their target price on Lithia Motors from $220.00 to $230.00 and gave the company an underweight rating in a research note on Thursday, February 29th. StockNews.com raised Lithia Motors from a sell rating to a hold rating in a research note on Thursday, April 4th. Finally, Stephens reiterated an overweight rating and issued a $375.00 price objective on shares of Lithia Motors in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $334.60.

Lithia Motors Stock Up 0.2 %

Shares of LAD opened at $260.84 on Wednesday. The company has a market capitalization of $7.18 billion, a P/E ratio of 7.19, a PEG ratio of 2.17 and a beta of 1.58. Lithia Motors has a one year low of $206.69 and a one year high of $331.96. The business’s 50 day simple moving average is $286.93 and its 200-day simple moving average is $284.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.41 and a quick ratio of 0.45.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $8.24 EPS for the quarter, topping analysts’ consensus estimates of $8.11 by $0.13. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the previous year, the firm earned $9.05 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that Lithia Motors will post 35.35 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 annualized dividend and a dividend yield of 0.77%. Lithia Motors’s dividend payout ratio is currently 5.51%.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Lithia Motors during the fourth quarter worth approximately $123,976,000. Cadian Capital Management LP acquired a new position in Lithia Motors in the 4th quarter valued at $105,370,000. Morgan Stanley increased its position in Lithia Motors by 114.1% during the 4th quarter. Morgan Stanley now owns 463,753 shares of the company’s stock worth $94,949,000 after buying an additional 247,174 shares during the period. MFN Partners Management LP boosted its position in shares of Lithia Motors by 43.0% in the first quarter. MFN Partners Management LP now owns 751,077 shares of the company’s stock valued at $225,413,000 after acquiring an additional 225,806 shares during the period. Finally, Eaton Vance Management raised its position in shares of Lithia Motors by 37,874.1% in the first quarter. Eaton Vance Management now owns 171,263 shares of the company’s stock valued at $51,400,000 after buying an additional 170,812 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.