Lithia Motors (NYSE:LAD) PT Raised to $302.00

Lithia Motors (NYSE:LAD) had its target price raised by Wells Fargo & Company from $266.00 to $302.00 in a report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also commented on LAD. Craig Hallum dropped their price objective on shares of Lithia Motors from $350.00 to $310.00 and set a buy rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the company a neutral rating in a report on Friday. StockNews.com raised shares of Lithia Motors from a sell rating to a hold rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised shares of Lithia Motors from a neutral rating to an overweight rating and upped their target price for the company from $270.00 to $280.00 in a report on Monday, June 10th. Finally, Guggenheim cut shares of Lithia Motors from a buy rating to a neutral rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $313.90.

Lithia Motors Price Performance

Shares of NYSE LAD traded down $5.37 during mid-day trading on Friday, reaching $290.07. 697,207 shares of the company were exchanged, compared to its average volume of 302,945. The stock has a market capitalization of $7.95 billion, a PE ratio of 8.57, a PEG ratio of 3.59 and a beta of 1.63. The company’s 50 day moving average price is $257.10 and its 200 day moving average price is $273.75. Lithia Motors has a 52 week low of $231.36 and a 52 week high of $331.96. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.25.

Lithia Motors (NYSE:LAD) last issued its earnings results on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. Lithia Motors had a net margin of 2.52% and a return on equity of 13.81%. The company had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter last year, the company earned $10.91 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Lithia Motors will post 27.62 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, August 9th. Lithia Motors’s dividend payout ratio (DPR) is presently 6.26%.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the completion of the transaction, the director now directly owns 1,922 shares of the company’s stock, valued at approximately $556,707.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.79% of the company’s stock.

Institutional Investors Weigh In On Lithia Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fiera Capital Corp boosted its position in shares of Lithia Motors by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 191,894 shares of the company’s stock valued at $48,444,000 after acquiring an additional 2,205 shares during the last quarter. Versor Investments LP acquired a new position in Lithia Motors in the second quarter valued at about $202,000. D.A. Davidson & CO. increased its stake in Lithia Motors by 2.3% during the second quarter. D.A. Davidson & CO. now owns 14,704 shares of the company’s stock worth $3,712,000 after purchasing an additional 330 shares during the period. nVerses Capital LLC purchased a new stake in Lithia Motors during the second quarter worth about $328,000. Finally, Van ECK Associates Corp increased its stake in Lithia Motors by 11.4% during the second quarter. Van ECK Associates Corp now owns 16,423 shares of the company’s stock worth $4,146,000 after purchasing an additional 1,686 shares during the period.

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.