Lithia Motors (NYSE:LAD) Given New $335.00 Price Target at The Goldman Sachs Group

Lithia Motors (NYSE:LAD) had its target price upped by The Goldman Sachs Group from $300.00 to $335.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on LAD. JPMorgan Chase & Co. upgraded Lithia Motors from a neutral rating to an overweight rating and raised their price objective for the stock from $270.00 to $280.00 in a report on Monday, June 10th. Bank of America upped their target price on Lithia Motors from $320.00 to $330.00 and gave the stock a buy rating in a report on Monday, July 22nd. Craig Hallum cut their price target on Lithia Motors from $350.00 to $310.00 and set a buy rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded Lithia Motors from a sell rating to a hold rating in a research note on Friday, April 26th. Finally, Guggenheim downgraded shares of Lithia Motors from a buy rating to a neutral rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Lithia Motors has an average rating of Hold and a consensus target price of $317.40.

Lithia Motors Trading Up 1.7 %

Shares of NYSE:LAD traded up $4.65 during trading hours on Friday, hitting $281.41. 218,253 shares of the company’s stock traded hands, compared to its average volume of 250,653. Lithia Motors has a 1 year low of $231.36 and a 1 year high of $331.96. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.19 and a quick ratio of 0.28. The firm has a market capitalization of $7.71 billion, a P/E ratio of 8.36, a price-to-earnings-growth ratio of 3.59 and a beta of 1.63. The business has a fifty day moving average price of $257.78 and a 200-day moving average price of $273.58.

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

Lithia Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, August 9th. Lithia Motors’s payout ratio is 6.26%.

Insider Transactions at Lithia Motors

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Lithia Motors in the fourth quarter valued at $6,072,000. Fulton Bank N.A. grew its stake in shares of Lithia Motors by 8.5% during the 4th quarter. Fulton Bank N.A. now owns 4,334 shares of the company’s stock worth $1,427,000 after purchasing an additional 338 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Lithia Motors by 0.3% during the 4th quarter. New York State Teachers Retirement System now owns 38,030 shares of the company’s stock worth $12,523,000 after acquiring an additional 100 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Lithia Motors by 889.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,336 shares of the company’s stock valued at $769,000 after buying an additional 2,100 shares in the last quarter. Finally, Bristlecone Advisors LLC acquired a new position in shares of Lithia Motors during the 4th quarter worth approximately $407,000.

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.