Lithia Motors (NYSE:LAD) PT Lowered to $248.00

Lithia Motors (NYSE:LAD) had its target price reduced by equities research analysts at Wells Fargo & Company from $290.00 to $248.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 0.51% from the company’s previous close.

A number of other research firms have also recently issued reports on LAD. Bank of America boosted their price objective on Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. The Goldman Sachs Group raised their price target on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. StockNews.com lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Morgan Stanley upped their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. Finally, Guggenheim decreased their price target on shares of Lithia Motors from $320.00 to $297.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Lithia Motors currently has an average rating of “Hold” and an average price target of $327.90.

Lithia Motors Stock Down 0.6 %

NYSE LAD traded down $1.60 during trading hours on Thursday, reaching $246.74. 60,072 shares of the company’s stock traded hands, compared to its average volume of 213,135. Lithia Motors has a 52-week low of $206.69 and a 52-week high of $331.96. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.41 and a quick ratio of 0.45. The firm has a 50-day simple moving average of $285.26 and a 200 day simple moving average of $284.10. The firm has a market cap of $6.79 billion, a PE ratio of 6.72, a PEG ratio of 2.24 and a beta of 1.58.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 3.22% and a return on equity of 17.33%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same period last year, the business earned $8.44 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. Sell-side analysts anticipate that Lithia Motors will post 34.78 EPS for the current fiscal year.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction on 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 directly owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Lithia Motors

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