Lithia Motors (NYSE:LAD) Price Target Lowered to $310.00 at Craig Hallum

Lithia Motors (NYSE:LAD) had its target price lowered by Craig Hallum from $350.00 to $310.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently commented on LAD. Morgan Stanley raised their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an underweight rating in a report on Thursday, February 29th. Wells Fargo & Company lowered their target price on shares of Lithia Motors from $290.00 to $248.00 and set an equal weight rating on the stock in a report on Thursday. Evercore ISI assumed coverage on shares of Lithia Motors in a research note on Wednesday, January 17th. They issued an outperform rating and a $400.00 price objective on the stock. Guggenheim decreased their price objective on shares of Lithia Motors from $320.00 to $297.00 and set a buy rating on the stock in a research note on Wednesday, April 17th. Finally, Bank of America lifted their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the company a buy rating in a research note on Wednesday, April 10th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $320.82.

Lithia Motors Stock Performance

Lithia Motors stock traded up $5.19 during trading hours on Thursday, hitting $262.92. The company had a trading volume of 220,479 shares, compared to its average volume of 222,137. Lithia Motors has a one year low of $206.69 and a one year high of $331.96. The firm has a 50-day moving average of $284.15 and a 200 day moving average of $283.85. The firm has a market cap of $7.24 billion, a PE ratio of 7.61, a PEG ratio of 2.10 and a beta of 1.58. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 0.45.

Lithia Motors (NYSE:LAD) last announced its earnings results 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 return on equity of 15.59% and a net margin of 2.87%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the business posted $8.44 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, sell-side analysts expect that Lithia Motors will post 34.78 earnings per share for the current year.

Lithia Motors Increases Dividend

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

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following the sale, the director now owns 1,662 shares of the company’s stock, valued at $495,010.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.79% of the company’s stock.

Institutional Trading of Lithia Motors

A number of institutional investors have recently bought and sold shares of LAD. Denali Advisors LLC raised its holdings in shares of Lithia Motors by 5,050.0% during the fourth quarter. Denali Advisors LLC now owns 103 shares of the company’s stock valued at $34,000 after purchasing an additional 101 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lithia Motors in the 3rd quarter worth about $32,000. JFS Wealth Advisors LLC raised its holdings in shares of Lithia Motors by 509.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock worth $38,000 after acquiring an additional 107 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Lithia Motors in the 4th quarter worth about $49,000. Finally, Rise Advisors LLC raised its holdings in shares of Lithia Motors by 80.2% in the 1st quarter. Rise Advisors LLC now owns 191 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares during 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.